Small business owners are keeping a wary eye on two pending pieces of legislation: The STEP Act and the 99.5% Act.
The two proposals put forth in the Senate in late March, target inherited wealth.
Proposed changes to the STEP act would impact family-owned businesses. It would eliminate stepped-up basis upon death of an owner.
Proposed changes to the 99.5% Act will change estate taxes. It would decrease the estate tax exemption.