Strategy for Business Owners as Tax Cuts Near Expiration

Photograph by Mike Kemp/Getty Images

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.”

To continue reading this article you must be a Bloomberg Professional Service Subscriber.