So, I just got my year-end letter from my company's accounting firm. Here are the first two paragraphs:
Year-end tax planning is always a tricky proposition, and this year is no exception. No one likes to pay taxes any sooner than required. So, traditional year-end strategies tend to focus on deferring income from 2009 to future years and accelerating deductions from 2010 into 2009.So when you Obama voters are wondering why small businesses aren't hiring, you can look at these two paragraphs from one of the best accounting firms in the U.S. and understand the position you put our country in.
This year, those strategies are complicated by the potential for higher tax rates in the next few years and the absence of details concerning what future tax changes may look like.