Sebastian, FL (PRWEB) October 31, 2013
”The current legislative and political landscape is confusing and potentially alarming to American business owners,” says Drew Miles, President of Pathfinder Business Strategies). Miles, a tax attorney and the founder of Pathfinder Business Strategies is a renowned expert on the subject; he is a teacher, author and lecturer on the matter of taxes, whose company has developed a proprietary list of more than 400 tax deduction strategies that helps high net worth individuals and American business owners save thousands of dollars on their taxes. http://www.TaxSavingProfessionals.com
Miles points out that the reality lately about taxes, fiscal cliff, tax deadlines and extensions for ObamaCare is likely one big blur to most business owners and individuals as the information is sporadic and when it comes it is fast and confusing. “We have a staff of tax professionals, lawyers and CPA’s whose sole function it is to monitor all the activities in Washington that can have an impact on our clients and American Business owners,” says Miles. (http://www.tax-saving-professionals.com/our-team/)
Experts at tax law, tax code and tax strategy, Pathfinder Business Strategies has helped more than 7,000 clients since 1997 save more than half a billion dollars in taxes. In the interest of clarity, or at least an in-the-moment assessment of what the current governmental legislation portends for high net-worth individuals and American business owners, Pathfinder Business Strategies offers below a manageable, succinct and comprehensible overview of these large looming issues designed to quickly educate and illuminate the good, the bad and the reality of what could be on the horizon for high net-worth individuals and American Business Owners.
2013 Tax Returns & Tax Refunds
The first and easiest topic is that 2013 Tax Returns (income earned in 2013) still have to be filed by their normal due dates, March 17, 2014 for corporations and April 15th 2014 for individuals.
For the people that prefer to file early, the best and fastest way to file is to file electronically with direct deposit selected to electronically move the money overnight on the day your refund is approved.
ObamaCare Enrollment Extension
Whether the plan itself is “sick” is a matter of continuing debate and while the plan at large is in a politically comatose state, there is no firm prognosis on all of the ramifications and implications of the Obama Care Health Care Plan yet. However, here are some facts as they currently present themselves:
The Fiscal Cliff
The Fiscal Cliff legislation raised tax rates for upper income taxpayers beginning on January 1, 2013. It involved a simultaneous increase in tax rates and a decrease of government spending through sequestration and was based on a series of previously enacted laws in the 2010 Tax Relief Act and the Budget Control Act of 2011.
So, what happens on January 1, 2014 without further legislation?
In conclusion, Miles makes the following observations about the above noted issues: “We anticipate naturally a significant wave of tax noise for the next several months due not only to the heated political environment surrounding all of these issues, but moreover the mechanism for adoption, implementation and execution of these various moving parts on so many constituencies in the country, such as the American people and business owners. However, the likelihood of any meaningful legislation being passed, at this time, remains slim.”
About Pathfinder Business Strategies
Since 1998 Pathfinder Business Strategies (http://www.TaxSavingProfessionals.com) has helped more than 7,000 clients nationally save more than half-a-billion dollars in taxes. The average American pays 31% in taxes, the average Pathfinder clients pays 15% in taxes. Founded by tax attorney Drew Miles, Drew spent more than 6 years pouring over the IRS tax codes seeking ways in which he could reduce his own personal taxes. The majority of tax professionals regularly use between 15 and 20 tax strategies to help clients reduce their taxes. Pathfinder utilizes more than 400 rarely used, misunderstood or simply unknown tax strategies by the majority of tax professionals. These strategies were developed by Drew along with a team of tax lawyer’s and CPAs, including a former IRS Revenue Officer and a former prosecutor with the Department of Justice with a 100% conviction rate. Not one of Pathfinders tax saving strategies has ever been overturned by the IRS. Pathfinder Business Strategies achieves this through record keeping and documentation combined with diligent compliance for provisions in the tax code by our Paralegals and Tax Pros - CPA’s, Attorneys and Enrolled agents. Drew Miles is an accomplished entrepreneur, author and lecturer.