Currently, in Our Undulating World of Taxation, Now is the Time to Focus on the Ball and Be Nimble.
Hopefully, you’ve exercised your choice to vote by now and now we have some things to consider about our Taxes moving forward… depending on who is our next U.S. President. Our two candidates are so divergent on their Tax Policies that many of our Customers are reaching out to us asking about what to do.
On the premise of these candidates’ divergent U.S. Tax perspectives, “Accounting Today” published an article that provides an insight into what other customers are asking of their Financial and Accounting Firms where I was quoted.
Turning Lemons into Lemonade
There is great uncertainty in our country today. Americans are worried about their health and their livelihood. Many businesses are struggling. Although the stock market has recovered in recent weeks, stocks are generally trading at lower values than in 2019 and the day-to-day markets are still unpredictable. Across the board, Americans feel a sense of trepidation about the future.
While it is hard to imagine there could be anything advantageous about today's uncertainties and depressed asset values, the following factors, coupled with historically low-interest rates, have made it an opportune time to transfer ...
On August 20, former United States Vice President Joe Biden formally accepted the Democratic nomination for US President. However, questions about Biden’s tax proposals, such as when and how fast he would push for tax hikes, remain to be clarified heading into the fall campaign.
Complicating matters, the US has recently spent trillions of dollars in response to the consequences resulting from the coronavirus pandemic, and the US is likely to spend trillions more. Someone has to bear the cost of all this spending and increased taxes appear to be the answer.
Biden’s proposed tax plan has two major components: higher taxes on both high-i...