The recently published ONE SOURCE Indirect Tax Report created by Thomson Reuters illustrated a total of 184 tax changes in the United States during the second quarter of 2011 alone, 86% of the changes consisted of new taxes or tax increases. The 111 tax increases and 48 new taxes in the US in just one quarter highlights the dynamic nature of today’s tax code. As a business owner, how often are you reevaluating your current operational strategy, structure, and systems with your accounting professional? New tax strategy opportunities and new tax traps are created almost daily. If your CPA isn’t part of your inner circle of trusted advisors, your business’ bottom line is likely suffering as a result. The old adage, “work smarter, not harder” can be a relevant reminder for many middle market business owners. Is your current operational strategy complimented by your tax strategy?
If you have any questions regarding this newsletter or any other recent tax issues, please call us at (636) 498-1900 or (573) 756-6400
