For this assignment present both positive and negative consequences of the proposed tax law
For this assignment present both positive and negative consequences of the proposed tax law change with relation to the topic stated below: Assume that this is presented to your most valuable client. Capital gain tax: For taxpayers whose income exceeds $1,000,000, capital gains may become taxed at ordinary income rates. Under the current draft of the full proposal, they would nearly double from 23.8% to 43.4% when accounting for the Net Investment Income Tax (Links to an external site.) of 3.8%. While the increase in the capital gains rates may end up landing around the 25% to 28% range based on the political climate, there is still an expectation that rates will increase.