It’s Not Over Until It’s Over
One of the famous Yogi-isms holds true today. We are quickly learning about a late night meeting in the Senate last night which breathed a small amount of life into the Health Care Replacement Bill.
While we cannot predict what will happen and whether or not this meeting and some of the renewed optimism will be able to produce a productive outcome, what we do know is of concern for businesses across the country.
The current version of the Senate’s bill has changed from its initial proposal – and what we thought was a given, is now being changed.
The most recent version of the Senate’s latest attempt does NOT remove the 3.8% net investment income tax, nor the 0.9% Additional Medicare Tax. These taxes can have a major impact on Succession Planning for companies across the U.S, and the retention of these taxes will impact our planning for the remainder of 2017 and beyond. It will be very important for Congress to give us a clear path forward as we near the end of the 3rd quarter so that we can effectively plan for the end of the year.
We here at The Center specialize in preparing and implementing Succession Plans for privately held Companies all over the United States. If you would like more information on how to start your planning, please contact us at 618-997-3436 or check us out on the web at www.taxplanning.com.