Wednesday, March 2, 2011


Q. I have been following your blog and I have been waiting for you to chime in on the tax consequences of President Obama’s budget proposal. Did I miss your take?

A. Actually I have not commented much on the tax proposals for a couple of reasons. First of all it’s probably all talk. The chances of his proposal getting through Congress are slim. Secondly, it can get confusing. When people read about a proposed change then next thing you know is that someone get’s it wrong and think that it is the real deal. You know what happens next. It hits the social network and people even get more confused. Finally, there has been a lot written about the proposal so I thought that people that were interested probably already had read the articles.

If you want a summary here is a piece from the Journal of Accountancy.