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Taylor Tepper - Forbes Advisor President Joe Biden campaigned on a promise not to raise taxes on middle-class Americans. But a little-known provision in his big social programs bill could do just that. Tucked away in the American Families Plan, is a proposal to change the way capital gains taxes are paid on estates when people pass away. This seemingly small revision to a tax rule called stepped up basis could cause average Americans to pay more to Uncle Sam than they would under the current tax regime, in addition to upending estate planning for the nation’s affluent and ube...

Stepped Up Basis Reform: Biden’s Middle-Class Tax Hike? May 6, 2021 6:34 AM Taylor Tepper - Forbes Advisor Posted: Updated: May 8, 2021 6:32 AM President Joe Biden campaigned on a promise not to raise taxes on middle-class Americans. But a little-known provision in his big social programs bill could do just that. Tucked away in the American Families Plan, is a proposal to change the way capital gains taxes are paid on estates when people pass away. This seemingly small revision to a tax rule called stepped up basis could cause average Americans to pay more to Uncle Sam than they w...

"First, there's the tax benefit," she said. "The other reason to do it is that you get energy savings." Indeed, powering a home has become more costly over the course of the year — particularly as employees continue to work remotely. The average cost price of electricity for residential customers ticked up to 13.55 cents per kilowatt hour in September 2020, according to the U.S. Energy Information Administration. That's up from 13.16 cents per kilowatt hour in September 2019. Grab your receipts and consider the tax incentives that are up for grabs this year. Rewards for your new car One of ...

Tuition at this catholic school. i could go on torturing myselfin about the good things i could do with that money, but instead, let's move on to the size of the tax bite. former "new york times" reporter david k. johnston just wrote a b book called "divided, the perils of our growing income inequality." he wants to address that with higher taxes on rich people. will mcbride, tax foundation, does not want too do that.t david, you want higher taxes? >> i want higher tax rates. here is what i want, the thing you talked about just now with steve forbes, it's not the ratei that make the system com...