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Tax Briefing: Post-Election Tax Policy November 2012

CCH Report1 154x201 Tax Briefing: Post Election Tax Policy November 2012Tax Briefing: POST-ELECTION TAX POLICY

Obama Wins Second Term; Agreement On Taxes/Spending Possible By Year-End

President Obama secured a second term in office November 6, 2012, in the end winning the Electoral College by a wide margin.

The President’s re-election now sets in motion what will likely be difficult negotiations between Democrats and Republicans over the fate of the Bush-era tax cuts, nearly $100 billion in automatic spending cuts, and the more than 50 expiring tax extenders, which include the alternative minimum tax (AMT) patch for tens of millions of taxpayers.

The President’s re-election has also significantly changed the dynamics for reaching an eventual agreement over long-term tax reform.

Check out this Post-Election Tax Policy Briefing for more detailed information and insight.

When it comes to taxes, Freed Maxick CPAs is different than most accounting firms in Western New York. To us, tax time is all the time. We’re sticklers about deadlines and compliance, but our larger goal is tax management. So we keep a year-round eye on federal, state and local tax laws, including those pending. We alert you to any changes that may affect you and help you respond in a timely way.

CONTACT US to learn more about how we can help you with your tax needs.

ABOUT US: Freed Maxick CPAs is Western and Upstate New York’s (NY) largest public accounting firm and a Top 100 firm in the U.S. Freed Maxick provides audit, tax and consulting services to closely-held businesses, public (SEC) companies, not-for-profits and governmental entities in Buffalo, Rochester, Syracuse, Albany and NYC, New York.

 


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