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- There are four strategies investors can adopt to manage tax liabilities, regardless of who wins the 2024 election, according to UBS.
- The firm says investors should diversify their tax statements and defer capital gains for as long as they can.
- They should also ramp up lifetime gifting now and find a trust and estate lawyer, UBS says.
Depending on who is sitting in the Oval Office for the next presidential term, fiscal policy is going to look pretty different, UBS said. But whether Donald Trump or Joe Biden wins, Americans can take steps now to shore up their tax strategies.
"Regardless of whom voters decide to return to office, the accumulated federal deficit is likely to serve as an ever larger constraint on future fiscal policy," UBS analysts wrote in a note. "As interest rates have risen, it has become progressively more expensive to finance the federal deficit."