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A Cautionary Tax Planning Tale: Timing and Formalities Are Critical

CPA Practice

When owners of a company plan to sell their business, there is very often a desire to minimize the resultant income tax. This tax is effectively taxing the increase in the value of the business often earned over many years and decades into a single year.

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New Trump Tax Cuts Could Cost U.S. $4.6 Trillion, Bipartisan Watchdog Agency Says

CPA Practice

Erik Wasson Bloomberg News (TNS) The cost of extending the 2017 tax cuts for households, small businesses and the estates of wealthy individuals enacted under President Donald Trump has expanded to $4.6 Extending the personal income tax cuts will cost $3.8 trillion alone.

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