Wednesday, February 24, 2010
Sunday, February 21, 2010
Higher Taxes Are On the Way for American Business Owners and Investors from 2011
The budget deficit for the next decade is projected to be the highest - as a percentage of GDP - since WWII. Many of the temporary tax cuts Congress enacted during the Bush Administration were aimed at business owners and investors.
Now these tax cuts are set to expire at the end of 2010, and the Obama administration, which is struggling to reduce an unprecedented budget deficit in the nation's history, is unlikely to extend many of these cuts - those aimed at investors in particular. Remember that most business owners are also investors.
So if you're a business owner or investor, get ready for higher taxes over the next decade because if higher marginal tax rates don't get you, the stealthy Alternative Minimum Tax (AMT) will.
Now these tax cuts are set to expire at the end of 2010, and the Obama administration, which is struggling to reduce an unprecedented budget deficit in the nation's history, is unlikely to extend many of these cuts - those aimed at investors in particular. Remember that most business owners are also investors.
So if you're a business owner or investor, get ready for higher taxes over the next decade because if higher marginal tax rates don't get you, the stealthy Alternative Minimum Tax (AMT) will.
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