Here is an article I read in CFO Magazine discussing the economics of taxing the wealthy (who is considered wealthy now anyway – this article doesn’t really have a cutoff so maybe $250,000 a year according to the President; I don’t know.)Here is the link:http://www3.cfo.com/article/2011/9/tax_tax-reform-and-the-wealthyIt seems silly to increase the tax on people who create a lot of the jobs and can just move if they need to to reduce their tax burden, but I am not a smart politian (or a dumb one either.)
Brian’s Tax Musings
Can you believe it? 2011 is three quarters over! Within the next month or so, you will need to start planning on minimizing income taxes for the end of this year, especially if you own your own business. Planning every year in November or December can save you taxes, whether discussing year end bonuses, retirement, reimbursement plans or asset purchases. If you want to plan now you can email me at bstonercpa@sbcglobal.net and we can see how to save you some taxes.
Brian’s Tax Musings
The 2011 tax tables are out for federal and California. These can be used for last minute tax planning by your tax preparer when you set up a tax planning appointment before year end (I hope you are doing this unless you have a simple return – there may be ways to save taxes without incurring a lot of additional costs). If you would like to make a tax planning appointment with me, email me at bstonercpa@sbcglobal.net . Here are the tables:Federal (PDF Distributed by Wells Fargo) https://saf.wellsfargoadvisors.com/emx/dctm/Marketing/Marketing_Materials/Life_Events_Planning/0000588524.pdfCalifornia (link to FTB Site)http://www.ftb.ca.gov/forms/2011_California_Tax_Rates_and_Exemptions.shtmlHope to hear from you.