Kiplinger

5 Ways to Prepare for Higher Taxes Under President Biden

Even if you think your taxes are too high, you might be enjoying relatively low taxes right now. If you are watching the news and hearing about government COVID-19 relief spending and President Biden’s tax plan, you may be wondering if your tax burden will grow.

There are several reasons to think you might be affected, especially if you are a high earner or have a significant amount saved in a tax-deferred retirement account, such as a 401(k). One, is that our national debt is growing as a response to the pandemic, just as it did during World War II. Following the war,

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