Featured entries from our Journal

The Good, The Bad, and The Ugly of Projected Tax Implications

Podcast Episode – Tammira Philippe

Future Equity Returns

Matt Hall Recognized for Thought Leadership

Nell’s Journey to Partner and COO of HIG

Image of the Month

The Intersection of Longview & True North = Destiny. The newest HIG team member, Charles Kafoglis, took this image in Antioch, Illinois. Follow us on Instagram to see more shared images from our team, or tag us in your own.

Nell’s Journey to Partner and COO of HIG

I told you last month that we’d be highlighting our team in a monthly video series and this month it’s Nell’s turn. A former petroleum engineer, Nell cold emailed me four years ago after hearing me interviewed on a podcast. The way Nell’s brain works caught my attention, both in her writing and in the subsequent call. Nell is now a trusted partner and leader of Hill Investment Group. She’s even got a nickname. We call her “Sheriff Schiffer” for the kind but firm way she has us all following a strict process. We hope you enjoy watching and listening to Nell describe how she found her “dream job” at Hill Investment Group.

The Good, The Bad, and The Ugly of Projected Tax Implications

There has been a lot of talk about the House Ways and Means Committee’s tax proposal. Whether in The Wall Street Journal or from Take the Long View podcast guest, John Jennings’ break down of the good, the bad, and the uglyspeculation is all over the placeAs a client of Hill Investment Group, you can rest assured that we are planning for all of the potential iterations.

Below we’ve reviewed the most relevant points for our clients. Have questions? Feel free to reach out to us to discuss how the potential changes may affect you. Set up a time to talk here.

House Ways and Means Tax Proposals Current Law
Top Income Tax Bracket Increase the top individual income tax bracket to 39.6 percent. This new top bracket would start at taxable income levels of $400,000 for single filers, $450,000 for joint filers. Effective 1/1/2022. The current top tax rate is 37 percent on taxable income over $523,600 for single filers and $628,300 for joint filers.
Capital Gains Increase the statutory capital gains rate to 25 percent. Effective 9/13/2021, subject to a binding contract exception. The current top statutory capital gains rate is 20 percent.
Estate and Gift Tax Reduce to an inflation-adjusted $5 million. Effective 1/1/2022. Inflation-adjusted $10 million ($11.7 million in 2021).
Roth Conversion Eliminate Roth conversions for both IRAs and employer-sponsored plans for single filers with taxable income over $400,000 and joint filers with taxable income over $450,000. A person can convert their eligible IRA assets to a Roth IRA regardless of income.

Have questions? Feel free to reach out to us to discuss how the potential changes may affect you. Set up a time to talk here.

Featured entries from our Journal

The Good, The Bad, and The Ugly of Projected Tax Implications

Podcast Episode – Tammira Philippe

Future Equity Returns

Matt Hall Recognized for Thought Leadership

Nell’s Journey to Partner and COO of HIG

Hill Investment Group