from the IRS shows. But impacted couples may get a surprise at tax time, financial experts say.
"This creates a need for very specific analysis for married couples," said Alvina Lo, New York-based chief wealth strategist at Wilmington Trust.Luckily, financial experts say there's time to prepare for any impending tax changes. If the law doesn't kick in until 2022, Smailhodzic Lewis said to watch the timing of year-end or first-quarter income. Self-employed filers may try to accelerate 2022 income into late 2021 before the measure goes into effect."Any deductions that you can take are going to be a lot more important,""The way the numbers shake out, because of the way our tax system works, you can definitely get into situations where you are better off if you are single," said Lo.
Those poor, well off people! If I had that kind of money, I could live with the taxes.
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