Now that Thanksgiving is over, it's time to get down to business in Washington. We will see if the members of Congress decide to actually resolve the tax situation and extend the Bush tax cuts for everyone or if they decide to take another approach such as the one recommended by the Sen. from Illinois which would only extend the tax cuts to those who make less than $1 million per year. I cannot believe that anyone would even consider raising taxes in the current economic climate we find ourselves in, but leave it to the knuckleheads in Washington to further make the economy suffer. As I've stated before, my clients are looking for relief from the tax code, not more taxes! As I've said before, it's time to take a few moments an e-mail call or write to your congressional representatives and let them know how you feel. Let them know that taxes are too high already and we don't need to be burdened with even greater taxes in the coming year. Remind them that the economy doesn't need a double dip recession and that our small business folks need to have some surety in their tax structure so that they may make plans accordingly. Right now, employers are unwilling to hire new employees because they simply don't know the impact of their taxes or the debacle which is the Obama health care plan.
We shall see just how much this lame-duck Congress gets accomplished. It will be amazing to me just what they are able to get through, but I bet we will all be shocked by the results. If you're concerned about how these potential tax increases will affect you, call Saggio management group and set up an appointment so we can review your tax situation and plan accordingly.