Tax Cut—or Enhancement?

By Scott Haislet

Washington, the nation, and the cable news outlets continue the buzz about the fate of the Bush tax cuts. Hey folks, they are everybody’s tax cuts. Bush seemingly left office a long time ago.

A client pointed out that tax professionals are in a no-lose situation. If the cuts go away, then tax advice will be at yet a greater premium; if cuts are re-affirmed for 2011 and beyond, tax-paying CPAs can enjoy a somewhat higher after-tax income.

Obviously, the client is an optimist. Or a tea drinker.

Hopefully, the cuts will be restored—or even enhanced. This economy needs funds out of government coffers and in hands of private citizens. By the way, in my 25-plus years dealing with taxpayers of all political stripes, I can tell you that even the most ardent progressive hates paying taxes.

Now, for some save the date events:

• Don’t forget ABC Night Sept. 28 at Scott’s Walnut Creek. Our board meeting will precede the festivities.
• Also, mark Oct. 26 for Sports Night, which will be preceded by a board meeting. Check future bulletins for more details. We will be lining up a speaker to talk about the local sports scene.
• Our 15th Annual Advanced Estate Planning Symposium will take place Nov. 2 at Round Hill Country Club.

One last note: If you are interested in being a chapter board member or if you have nominees to be considered, contact Nominating Committee chair Michele Day or chapter program associate Soco Davenport by Sept. 17. The committee will select a slate of candidates in September that will then be presented to the board of directors at its Oct. 26 meeting. The approved slate will be published in the December Bulletin and call for nominations from the membership will be made at that time in preparation for the ballot in January.