Ohio recently joined 28 other states who have enacted the “SALT Cap Workaround” with Governor DeWine’s signing of Senate Bill 246. What does that mean for you?
Between the Biden Administration’s American Families Plan and the proposed “For The 99.5 Percent Act,” several potential changes could have a significant impact on estate and gift tax planning opportunities. Many iterations and changes will likely occur before these changes are finalized. However, planning should be happening now based on the below changes being considered. All comparisons below are based on 2021 individual limits.