Planning opportunities and pitfalls under the 1993 Tax Act - an early view

Article Abstract:

The Omnibus Budget Reconciliation Act of 1993 has important tax consequences for individuals and businesses who must assess the planning opportunities and potential liabilities. The law has three goals: tax fairness, economic stimulus and deficit reduction. These goals are met by taxing the rich, investment tax credits and a fuels tax among other provisions. High income individuals are faced with a 36% tax bracket and a 10% surtax on incomes of $250,000 or over. Corporate estimated tax computation has been simplified but many deductions such as business entertaining have been eliminated.

Analysis, Interpretation and construction, Tax law, Laws, regulations and rules, Tax planning, Income tax, Ferrero, Henry J., Jr.

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Tax issues and trends: a roundtable discussion of the CCH Tax Advisory Board

Article Abstract:

The Commerce Clearing House Tax Advisory Board is made up of tax lawyers, academics, former public servants in tax related positions, accountants and practitioners who all believe that tax simplification is an absolute necessity. The present tax system, according to the board, overtaxes savings in favor of consumption, provides tax credits or deductions that are too complicated to apply for and reduces US international competitiveness. Tax reform proposals seem mainly political in nature and will have little effect on the problems of the system as it stands.

Conferences, meetings and seminars, Tax reform, Commerce Clearing House Inc.

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A first look at Clinton's tax proposals

Article Abstract:

The Commerce Clearing House Tax Advisory Board supports Bill Clinton's intentions to reduce the deficit through spending cuts and tax increases because it believes deficit reduction is essential. However, the Board feels that the spending cuts have not been defined and that many of the tax increases are politically oriented rather than revenue producing such as the cap on executive compensation deductions. Some of the taxes Clinton has proposed will be difficult to administer or enforce and others will not produce the necessary revenue.

Planning, Budget deficits

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