Episode 19 – Potential Tax Implications from 2020 National and California State Elections

Tax planning is as important as ever, and based on the recent elections it may have an impact on your personal and business income tax situation. 

In this episode, Kyle Malmstrom and guest Ken Van Damme, tax partner at Ernst and Young, give listeners guidance for some tax solutions to put into action. Kyle and Ken raise concerns about why you should be making immediate decisions and acting accordingly to save you money. 

In this episode you will learn:

  • Why Joe Biden’s tax plan matters for your individual or business planning
  • What estate tax exemption is and how it works
  • About income and estate taxes under Biden’s plan
  • About the several programs that may be implemented when Biden takes office
  • What a sunset provision is and the impacts of the provision
  • California propositions and legislation targeting high-income earners
  • And more!

Tune in now to learn more about how to plan for the new tax environment!

Resources: Centura Wealth AdvisoryKyle Malmstrom | Ernst and Young | Kenneth Van Damme