February 2010

Obama tax hikes would affect companies, wealthy taxpayers

From abcnews.com

Big companies face bigger taxes under President Barack Obama's proposed $3.834 trillion budget. The budget does, however, include tax breaks for a majority of Americans. Individuals earning more than $200,000 annually or families earning more than $250,000 would also see tax increases. "I think he [Obama] has a really good chance for it becoming law because it doesn't require any action on the part of Congress," Tom Ochsenschlager, vice president of taxation for the AICPA, said of the proposed tax increase.

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This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.