Tag Archives: Tax Proposals
President Obama releases details about tax incentives for individuals
Just over 100 days into his administration, President Barack Obama is releasing more details about his tax policies. The Treasury Department’s recently published “Green Book” (which is called green for the color of its cover) describes the president’s tax proposals. As expected, many of the proposals build on the president’s campaign promises to cut taxes for middle-income individuals. Congress has already begun drafting legislation and debating the president’s proposals, which could be enacted into law later this year.
Posted in Tax, Tax Planning, Wealth Management
Tagged Tax, Tax Planning, Tax Proposals
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President’s Tax Proposals Stir Controversy
Several tax provisions in President Obama’s proposed federal budget for fiscal year (FY) 2010 have garnered significant criticism on Capitol Hill since the Obama administration released the budget. Obama’s proposed budget would cost $3.5 trillion, make major long-term changes to individual and business tax, and includes proposals to limit tax deductions for mortgage interest and charitable contributions for higher-income taxpayers, in addition to long-term plans that raise tax rates from their current level for higher-income individuals Continue reading
