Mr. B. Close
5 Low Street
North East Ave.,NY
Subject: Tax Planning Letter for the Year- End 2009
Dear Mr. Close,
It is inevitable that taxes in the coming year will soon go up because of various economic reasons. With this, I am calling your attention as a tax payer to promptly review your tax strategy and identify the areas or factors that you could use to maximize your tax.
This year, the tax legislation has lowered the tax rates and they also extended tax deductions. Yet, most of these favorable legislations will soon end on December 30. But aside from this, there is also a new reform on the education budget effective next year and this could be another reason to the rising taxes.
The city legislators are giving more focus on education now as it has been the weakest point of the state. But if there will be no changes in the minimum level of taxes, some 25 million taxpayers will be affected.
J. Cameron Consulting Ltd.