Strategy for Business Owners as Tax Cuts Near ExpirationBy
Tax strategy is nearly always complex for small business owners. But this year, with a presidential election looming and the Bush-era tax cuts set to expire unless agreements can be reached before Jan. 1, yearend tax planning presents a historic challenge. “We’re in an uncharted place right now” in terms of uncertainty, says Louis Balbirer, director of tax services for accounting firm Kaufman, Rossin & Co. in Fort Lauderdale. In nearly two decades of work with entrepreneurs on tax compliance and planning, he says, “I can’t remember ever having confronted a situation like this.”
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