Charlie Jordan was published in the Gwinnett Business Journal
Tax Planning Has Never Been More Important
Similar to a holiday buying rush, the current political mood seems to be "spend now, worry about paying later."
Although we can hope for the best, chances are that families will have a growing bill to pay (both in absolute dollars and as a percentage of the total) in coming years in the form of higher taxes. Speculation on future tax law changes is not an exact science, but even if Congress cannot come to an agreement on new tax legislation, it has the luxury of allowing the sunset of the Bush tax cuts at the end of 2010 without casting a vote. Among other negative effects, this would increase the top marginal rate to 39.6 percent from 35 percent and reinstate the 36 percent bracket. Now is a great time to take a fresh look at your tax planning.