September 17, 2010

Start planning for storm of higher taxes in 2011

By

The forecast for Dec. 31, 2010: rising income tax rates, with a chance of higher estate taxes and lower estate value exemptions. The long-term forecast: a new tax on investment income in 2013, and a movement to subject some S corporation dividends to payroll taxes.

Never has there been a more urgent need to plan a multiyear tax strategy to address one of the most intense concentrations of tax changes in nearly a decade.

Contrary to conventional wisdom, many tax professionals are advising high income/high net worth taxpayers to recognize as much income as possible in 2010 in order to take advantage…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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