As you most likely know, on April 9, former
Pennsylvania senator Rick Santorum suspended his campaign for the 2012
presidential race. This move effectively clears the way for former
Massachusetts governor Mitt Romney to assume the Republican nomination. This
helps clear the way in determining your future tax situation Romney has made taxes a
centerpiece of his campaign, and we expect to see even more attention focused
on the issue as November draws near:
- Romney would make the Bush tax cuts permanent.
- He would cut top rates to 25% for both individuals and corporations.
- He would eliminate tax on interest, dividends, and capital gains for taxpayers making under $200,000.
- He would eliminate the estate tax entirely.
- He would eliminate the Alternative Minimum Tax (AMT) as well as new taxes imposed by the 2010 health care reform legislation.
We realize that this year's Presidential
race will have a major effect on your taxes. So we're committed to tracking
both candidates' tax proposals, letting you know how they affect your wallet,
and offering proactive suggestions to plan for tax law changes. We're not here
to take sides. We just want you to know we've got your back.
We'll be following the race
carefully through November and beyond. So, if you have questions, don't
hesitate to contact us.
