Tax Bill Finalized But Veto On The Horizon

House and Senate Republicans are putting the finishing touches on their tax cut plan valued at $792 billion over the next ten years. This is a far cry from the Democrat’s desired $250-300 billion cut, and almost guarantees a veto from the President. The bill would trim all five income tax rates by one percentage point, lower capital gains taxes for individuals, provide special tax breaks to businesses, and ease the so-called marriage-tax penalty, which forces millions of couples to pay higher taxes than if they were single.

Politics will again get in the way as both sides are jockeying for position in next year’s elections. Don’t expect a final bill to be presented for ratification until summer recess is over and Congress comes back to work after the Labor Day holiday . . .

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.