How Spending Cuts, Debt Ceiling Could Impact Clients' Tax Picture

President Obama, for instance, has proposed capping exemptions and deductions at the 28% tax rate, which would have the effect of increasing the tax burden on high-end earners. An individual in the highest 39.6% tax bracket, for instance, would only be able to deduct certain items at 28%, unlike the current system which allows deductions equivalent to a payer's tax bracket.

Get access to this article and thousands more...

All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here