50 Tax Breaks in Limbo - Tax Tip of the Week

When the U.S. Senate adjourned for 2009, they left in limbo the future of more than 50 individual and business tax breaks which expired at the end of 2009.  Most notably, the expiration of the estate tax laws was not addressed.In a letter to Senate Majority Leader Harry Reid, Senate Finance Committee Chairman Max Baucus “vowed to pass legislation to extend the expiring tax breaks early next year."And so we wait and watch Washington. We'll keep you posted on progress and how it might affect your tax position. It's looking like another interesting year in the tax world!As always, give us a call if you have any questions. In Dayton, call 937-436-3133 and in Xenia, call 937-372-3504. Or visit http://www.bradstreetcpas.com.Rick Prewitt - the guy behind TTW...until next week.