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The possibility of tax changes impacting estate planning substantially increased following the recent Georgia runoff election. After January 20, the Democrats will control the House of Representatives, Senate (with Vice President-Elect Harris’ tie-breaking vote as President of the Senate), and White House. Although Democratic control of all three branches of the federal government could result in several changes to existing tax laws affecting estate planning (e.g., potential increase in individual and business income tax rates, elimination of the “step-up” in income tax basis on death, etc.), this update focuses on possible changes to the lifetime federal estate, gift, and generation-skipping transfer tax exemption amounts, related tax rates, and the anticipated date of any such changes.
January 11th, 2021 by KRNB
Tyler MitchellVice President-elect
Kamala Harris made her debut on the cover of
Vogue magazine’s February issue ahead of Inauguration Day, and already the image is prompting some backlash.
Vogue featured two cover images of Harris. One has her posing in front of a golden drape in a powder-blue power suit and pearls. She poses against pink and green drapery in the other, wearing a casual black blazer and Converse sneakers. The images were taken by
Tyler Mitchell, the first Black photographer to shoot an American
Vogue cover, and who shot
Beyoncé’s
Zendaya’s in 2019.
Joe Biden and Vice President-elect
Kamala Harris won the 2020 election after the Electoral College votes were tallied. The official announcement came after
Trump supporters’ violent attack against the U.S. Capitol, but Congress made sure to not let a group of mindless, domestic terrorists stop them from the transition of power. Thankfully.
To celebrate, VOGUE magazine released their February 2021 cover star and it was none other than our history making Vice President-elect Kamala Harris. Lit, right? Yep. However, the cover. Yeah, folks were NOT feeling it.
The cover (that will get printed) features VP-elect Harris standing in front of a pink and green background in a black blazer and skinny pants paired with Converse Chuck Taylor sneakers (which she sometimes wore on the campaign trail) and her trademark AKA pearls (above). The pink and green background was a subtle tribute to the Howard University alum’s beloved Alpha Kappa Alpha Sorority, Inc.
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Vogue s editor-in-chief is speaking out about recent criticism the magazine has faced. On Tuesday s episode of
The New York Times podcast
Vogue cover. The podcast also includes an audio interview with Wintour, which was recorded prior to the cover controversy.
Vogue was criticized after releasing the print cover of its latest issue, which featured the vice president-elect in a black jacket and Converse Chuck Taylor sneakers. A source close to Harris previously told ET that the outlet and the vice president-elect s team had previously agreed that a photo of Harris in a blue suit with a gold backdrop would be the cover, though Harris camp never asked for photo approval.