ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 57: Major Final Updates to Biden’s Tax Proposal!

If you were one of the many listeners who tuned in to a Top 3 most listened to episode of ours titled “Get Ready: Biden’s Tax Proposal Is Out!”, then you probably left off thinking your tax situation for 2022 would be changing. And that change would result in more taxes being paid than before. Well, the final updates to that proposal have been released. Spoiler: it isn’t looking as bad as it may have seemed.

So in this episode, we get into what made the cut… and what didn’t. In either case, there is still going to be planning required to ensure you aren’t overpaying on tax next year.

Topics Discussed:     
  • Some of the changes being made to the tax proposal.
  • What didn’t make the bill.
  • Who will be subject to Medicare surtax. 
  • What the wash-sale rule is and if it made the cut.
  • Whether you should be worried about a tax increase.
  • What the increase to child care credit will be.
  • Why you should never evade taxes.

Resources Mentioned:

ERdocadvisor.com  

Tags

planning, financial planning, ER doctor, doctors, taxes, Biden taxes,