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Biden’s American Families Plan: What it means for tax free transfer of your assets to your kids?

I discussed in my last blog that Biden’s tax policy might do away with step up in basis. And here we are. The American Families Plan is out and “hidden” there is a provision that proposes to do just that. This may negatively impact intergenerational wealth transfer of many California home-owning families. Step-up in basis …

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