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I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here on Ready for Retirement. for retirement.

Hi, everyone, and welcome to another episode of Ready for Retirement.

I'm your host, James Cannell.

And on today's episode, we're going to talk about what potential tax legislation change could look like with new president-elect Joe Biden.

So just a few short

years ago, President Trump oversaw the passing of the Tax Cuts and Jobs Act, TCJA. That was in

2017. And there's pretty significant tax reform that was made as a result of that tax plan.

Now, a few years later, we don't know all the specific details of exactly what Joe Biden's

tax plan would look like, but we're starting to get a pretty clear picture.

President like Biden has certainly released some high level overview of what that tax plan would look like.

And as a financial planner, and as you listening, looking at your financial planning, an important aspect of that is, of course, what you do with tax planning.

And so getting a sense of where we are today, getting a sense of where things will likely be in the future, and understanding how tax that is, of course, what you do with tax planning. And so getting a sense of where

we are today, getting a sense of where things will likely be in the future, and understanding

how tax legislation is going to change is really crucial to you understanding how you can make the

most of your finances. So while we don't have the exact details yet, and of course, nothing will be

finalized until something's passed through Congress, which could take a year or two, maybe even potentially more. What we do know, and what we are going to talk about today,

is some of the proposed changes that President-elect Biden has indicated he would like to make.

So what we're going to do is we're going to talk about how what changes might happen with individuals,

what changes might happen with businesses, how this could impact real estate investors in state planning, and there's a whole

myriad of changes that we're going to walk through. So let's jump right in. The most important thing,

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