Tax Break

Essential reading: How far can Obama push on key issues including tax increases, and more

November 7, 2012

Welcome to the top tax and accounting headlines from Reuters and other sources.

 * Question for the victor: How far do you push? Peter Baker – The New York Times. What faces President Barack Obama in this next stage of his journey are not overinflated expectations of partisan, racial and global healing, but granular negotiations over spending cuts and tax increases plus a looming showdown with Iran. Link

* Obama’s re-election and a path to a tax code revamp. Kim Dixon – Reuters. It will be President Barack Obama’s choice, those in both political parties agree, to make a bold proposal and use his bully pulpit to push through fundamental tax reform. Link  

* What Obama’s win may mean for personal tax planning. Nanette Brynes – Reuters. Uncertainty about who will occupy the White House is over now that U.S. President Barack Obama has been re-elected, but uncertainty about taxes is still with us. There is no need to feel paralyzed though. Tax advisers say it is possible now to suggest tax planning moves that could be a smart way for individuals to play a second Obama presidency, though a lot of variables remain. Link  

* France announces cut in payroll taxes for businesses. David Jolly – The New York Times. Responding to calls to make French industry more competitive by reducing labor costs, the Socialist government of President François Hollande said Tuesday that it would cut payroll taxes for businesses. Link 

 * Eyeing tax relief for Hurricane Sandy victims. Arden Dale – The Wall Street Journal. Experts say there are tax surprises in store for some Hurricane Sandy victims. To begin with, many people assume they can deduct the full value of destroyed property such as a home. Link

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/