2012 Year-End Tax Planning for Businesses

In recent years, end-of-the-year tax planning for businesses has been complicated by uncertainty over the future availability of many tax incentives. This year is no different. In 2010, Congress extended many business tax incentives for one or two years. Now, those incentives either have expired or are scheduled to expire. Whether they will be extended is unclear, as Congress debates the fate of the Bush-era tax cuts and the across-the-board spending cuts scheduled to take effect in 2013. Taxpayers need to be aware of the expiring provisions, and to explore developing a multi-year tax strategy that takes into account various scenarios for the future of these incentives.

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