Fear of heftier estate tax has R.I.’s wealthy worried

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PLANNING AHEAD: Brad McGuire, a tax partner at Blum, Shapiro & Co. in Cranston, and other accountants have been spending a lot of time talking with clients about possible changes to the estate and gift taxes under the Biden administration. / PBN PHOTO/MICHAEL SALERNO
PLANNING AHEAD: Brad McGuire, a tax partner at Blum, Shapiro & Co. in Cranston, and other accountants have been spending a lot of time talking with clients about possible changes to the estate and gift taxes under the Biden administration. / PBN PHOTO/MICHAEL SALERNO

The potential of higher taxes on gifts and estates after Democrat Joe Biden enters the White House in January is giving a lot of Rhode Island business owners reason for pause. Should they move now to try to minimize any tax? Should they start to make those gifts of stock or other assets in 2020,

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