It's an election year and that means that taxes are up for discussion. We've already seen big changes with the Supreme Court's ruling on the Affordable Healthcare Act.
Many issues still remain unresolved. Will another "patch" be placed on the Alternative Minimum Tax so that millions of Americans are not liable for the dreaded AMT? Will the Bush tax cuts that expire on Dec. 31 be extended? What is the likelihood that bonus depreciation will be extended for 2012 and beyond? The list goes on.
The outcome to these questions (and many more) will likely be determined by who wins the presidency in November. If you have any questions regarding 2012 tax issues please contact me. As always, I am happy to speak with you about them.
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