Business forum: Tax planning for end of the world as we know it

Article by: JAMIE FRITSCHEL
Updated: June 10, 2012 - 12:15 PM

The unknown future of the Bush tax cuts, estate taxes and the new health care surtax make it wise to plan ahead.

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MOSESBUDDYJun. 17, 12 2:15 PM

Nancy Mason's comments on the article that Jamie Fritschel wrote on June 11 about estate tax law changes struck a chord with me. I felt compelled to respond to Nancy. Her letter was on course about how she has planned for the future, put her children through PRIVATE college (which is a luxury many people can not afford) and has been fiscally responsibile. I have to respond to the last sentence in her letter. She wrote "For me, this article was a stark reminder of income disparity." I feel compelled to address that comment. I am the owner of a business that was started in 1971. I have employed many people over the course of 40 years and paid my share of corporate tax, social security match for my employees, personal tax, tax on equipment purchases etc. I have provided, at no cost to the employee, health, dental, long term and short term disability, life insurance and match on their 401K. Many of my employees have been with the company for 20 to 30 years. It sounds like I would be rich beyond dreams doesn't it? I am in the same sense that Nancy is. I also own a modest home, drive a 5 year old car, planned for my retirement, sent my sons to state college. I likely won't have an estate worth more than $1 million dollars but if I do I do not want to pay more tax because of it. I have personally and through my business paid enough. My sons should not have to pay again if anything is left. I think her comments were easy to say based on the fact her income, on going pension, on going health benefits were paid with my tax dollars. Kathy Hinderer