Taxmaggedon 2013 – Expiration of Bush Tax Credit and Selling Your Business – The Answer Could Cost Americans $600 Billion!!

By Jason Alan, Los Angeles Business Broker May 30, 2012 Los Angeles, California  - If you’re considering selling your business before 2013 or are considering waiting until after Jan 1, 2013, there are some important bush era tax credit expirations that must be understood.  First, let’s start off with some background information, it’s important that you know most of these tax credits have already expired in 2011 and 2012.   The major issue which is left on the table for 2013 is primarily about the hike in income and Capital Gains Tax. George W. Bush started out by getting some of the largest income tax cuts in U.S. history passed through Congress, many of which have and are starting to disappear.  During the middle of his term, President George W. Bush tried vigorously to get Congress to make his tax cuts permanent, but the War on Terror seemed to make this impossible. The Democrats used the Bush administration tax cuts as political ammunition against him in the 2004 presidential … [Read more...]