With Higher Taxes Looming, Are Your Clients Ready?

McCarthy, Ed
November 2011
Journal of Financial Planning;Nov2011, Vol. 24 Issue 11, p22
Academic Journal
The article discusses the issues concerning the projected tax increases in the U.S. It mentions that an international poll conducted by CNN/ORC discovered that majority of Americans are worried, wherein 63% of the respondents believe the newly appointed Joint Select Committee on Deficit Reduction should increase taxes only for higher income. Meanwhile, only one-third claimed that the rich people should be kept lows, since they help create jobs. It notes that the current federal-estate and gift-tax exemptions and rate will expire at the end of 2012 and the current law demands for higher taxed in 2013.


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