UBS: 2022 tax & financial planning guide (February 28, 2022)

UBS has made available for download their report, “2022 planning guide”, which provides a in-depth overview of income tax, retirement, and estate planning ideas for this year. The report begins as follows:

Early last year, just after President Biden was sworn into the Oval office and the Democrats narrowly secured the majority in the Senate, most of us thought we were in for some significant changes to federal tax laws.

After all, President Biden had campaigned on raising taxes for corporations and the wealthy, and the Democrats seemed nearly united in agreement with his campaign promises to raise taxes on the wealthy and corporations.

Indeed, the bulk of 2021 was spent under the specter of seemingly inevitable changes: in May of 2021, the Administration released its wish list of tax proposals, then the House released a draft bill in September that proposed serious changes—some even retroactive—to income tax, capital gains, and corporate tax rates, as well as wide- ranging changes to the estate and gift tax regime, retirement planning, and international corporate taxation. Yet, despite the House passing legislation in November to make significant tax changes, we are now into 2022 without any changes to the tax landscape passed into law, other than some moderate inflation adjustments. This doesn’t mean that tax changes are not still possible sometime this year.

Click here to download the full report: “2022 planning guide”

Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal

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