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Tax Help for High Incomers and Small Businesses Targeted by IRS and Imminent Tax Hikes
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With Obama?s tax hikes on tap for 2011, Americans with unfiled tax returns or IRS
debt will need to know how to get tax help to resolve their IRS problems and
protect their personal and business finances before it?s too late.
Encino,...
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With Obama?s tax hikes on tap for 2011, Americans with unfiled tax returns or IRS
debt will need to know how to get tax help to resolve their IRS problems and
protect their personal and business finances before it?s too late.
Encino, CA, August 07, 2009 -- One of the targets of the Obama administrations
impending tax hikes are high income earners.
Obama?s biggest tax hike will affect
married filers making over $250,000 and singles making more than $200,000.
In a
nutshell, the administration is swapping out 36% and 39.
6% tax rates for the
current 33% and 35% tax brackets.
A couple of other changes the high incomer should expect will be a bigger hit to
capital gains and dividends and continued phaseouts of personal exemptions and
itemized deductions.
The new tax hikes will also impact businesses.
Since small businesses and sole
proprietors are the largest contributors to the national tax gap, they are likely
targets for revenue to help reduce the federal deficit.
Some of the tax
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