So there we have it: The president's proposed budget. Or, as some people are calling it, the president's “political document.”
I'm curious what the shelf life of this thing will be. Both sides will get some mileage out of it during their campaigns. Beyond that, I think it's nothing more than a paperweight — made, ironically, out of paper. It'll never get passed in its current form.
Still, there are a number of proposals in this thing that CPAs should pay attention to, particularly when it comes to taxes. Let's take a look at some of them.
- President’s budget proposes AMT elimination, tax reform (from the Journal of Accountancy)
- Obama proposes tax reforms in 2013 budget (from Accounting Today)
- Obama proposes higher dividend taxes in focus on wealthiest (from Bloomberg)
- Obama seeks higher taxes on big business (from Reuters)
- Budget seeks to boost tax revenue (from the Wall Street Journal)
- Obama's new budget: The winners and losers (an Associated Press video)
- Analysis: Politics trumps policy in Obama budget (from CNN)
- What you need to know about Obama's budget proposal (from MSNBC)
- President Obama’s budget revealed: A look at the tax details (from Double Taxation, via the AECM listserv)
- What if Obama's budget were your family's (an ABC News video)