9 Ways Your Clients' Taxes Could Change Under Biden

If Joe Biden wins the presidency and the Democrats win control of the Senate, financial advisors should be braced for higher taxes on their wealthy clients. In the meantime, they should "educate themselves (and their clients) about the impact that each candidate's position will have on them, and to help them plan accordingly as election results come in!" wrote Jeffrey Levine, CPA, the director of advanced planning at Buckingham Wealth Partners, in a recent report on proposed changes and year-end planning opportunities focused on the Biden tax plan. (Related: 5 Predictions for Retirement Plans if Biden Wins Election)