Thanks to the extension of the so-called Bush tax cuts through 2012, the current federal income tax environment remains favorable through year-end. That said, now is the time to take advantage because we do not know what tax rates will be in 2013 and beyond. The information below presents some tax planning warnings and important points to consider this summer while you have time to think. Some of the ideas may apply to you, some to family members, and others to your business. Midyear Tax Planning
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.