Successful tax planning looks for trends. Tax planners look down the road and around the bends. They structure now for tomorrow. They don’t rely on year-end tax planning.
A recent article (in France) jumped out at me as I read about the American Republican Parties pretending to “reform” taxes. France government subsidies and immigration are worst than the U.S. (thankfully). However as the U.S. National debt combine with many states and cities facing insolvency, the battle between the have nots and the have is looming. New York has proposed a new tax that applies only to the haves.
Keep in mind, as you read this article, former President Obama, at an Orange County rally, told the audience those with household incomes exceeding $250,000 were the “rich”. The $250,000 threshold continues to be the red line in the United States.
You think it can not happen in America? Since Democrat Jerry Brown became governor, income taxes have increased by 30%. The U.S, has had a tax rate up to 94%. Add to that your state income taxes, I hope you can see that you must plan now for the future.
Keep this in mind as you read this article.
For your small business tax planning, you should watch the trends… which is higher taxes unless you are active in tax planning. Great tax planning is not year end tax planning. It is long term with a separate plan for each part of your business.
I had the article translated and it is below .
Economic inadequacy or social justice? For thirty-six years, “the tax on the rich” made controversy. Emmanuel Macron wants to reform it, distinguishing between real estate and financial investments.
Since its inception in 1982, the performance of the ISF has been erratic.