Tax Planning for the 2010 Year End is Especially Challenging.
Mondaq Business Briefing › Nbr. 2010, January 2010
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Tax Planning for the 2010 Year End is Especially Challenging.
If we were to pick a single word to describe tax planning between now and the end of the year 2010, that word would be "uncertainty." Significant changes in the income tax law are scheduled to take effect on January 1, 2011, as a result of the sunset provisions in the 2001 Economic Growth and Tax Relief Reconciliation Act and the 2003 Jobs and Growth Tax Relief Reconciliation Act. Uncertainty is the key because we still do not know whether Congress will act to alter any of those changes.
Until something does happen, we have to assume the changes scheduled to take effect on January 1 will in fact occur. We will review below the most significant changes and discuss the planning considerations they entail. Tax Rate on Long-Term Capital Gain Increases from 15% to 20...See the full content of this document
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