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6 ways to reduce the tax hit if the ‘Buffett rule’ is enacted

by on
in Small Business Tax,Small Business Tax Deduction Strategies

The budget deficit remains daunting, but the IRS has fewer resources to close the estimated $385 billion “tax gap.” Don’t be surprised if Congress is compelled to implement the “Buffett rule” or a similar revenue-generating provision. If you’re a high-income taxpayer, take steps now to reduce your tax exposure if the Buffett rule becomes law.

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