Post Election 2020 – Where Do Taxes Go From Here?

November 30, 2020

On November 17th, we hosted a virtual conversation with BDF’s income and estate tax planning experts during which we shared our insights on what the results of the election mean for estate and income tax changes in the future as well as what you need to consider before year-end given the potentially changing landscape. We also addressed Illinois tax and estate planning.

Video Index:

1 2:45 What income tax policies are being proposed by President-Elect Biden?
2 6:15 What income tax changes could get done?
3 12:15 What is being proposed for estate taxes?
4 15:10 What is the likelihood of estate tax policy changing?
5 18:27 What income tax planning should be done before year-end.
6 24:36 What estate planning strategies should be done before year-end?
7 31:22 What about the future of Illinois income and estate taxes?
8 38:02 Considerations when giving from an IRA – Qualified Charitable Distribution
9 39:30 Can you do a Roth Conversion if you are retired?
10 40:38 Do IRA distributions still make sense in 2020?
11 44:02 Ideas for someone planning to retire in the next 2 years.
12 49:01 Guidance on 2021 RMD tables and another potential RMD tax holiday.
13 51:51 What considerations should you have as you think about giving to the next generation?