Tax Changes Are Here and more are Coming
We are still learning about the tax changes that have occurred so far this year, and we see bills being considered in congress.
Is the year they tax S Corporation earnings as self-employed income, raising the tax burdern on thousands of small businesses?
Are they going to take away or more than likely let fade away the 15% on C corpopration Dividends? Increase the tax rate on capital gains?
Is this the year to take those dividends out your closely held business? Take the gains on long held assets? Bust a like kind exchange transaction?
It is difficult to make decisions concerning timing on taxable events when you do not have certainty as to what the tax laws will be this year or next year.
It is critical that you as small business owner or as an individual pay attention to the changes or lack of changes that is occurring in DC. Your choices will affect your taxes.
Please call us if we can help you in understanding what is happening in your business.
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