Author: Michael Hosemann, Managing Director, Enterprise Consulting Solutions

In the “brave new world” following the November 2008 elections, small businesses face a phalanx of challenges in the tax arena. First of all, the Obama Administration and Democrats in Congress plan to allow some of the Bush-era tax cuts to expire, thus raising taxes on top earners. Secondly, the health care overhaul being debated in Congress contains proposals that pose a huge financial threat to small businesses. Finally, the Cap and Trade legislation that awaits debate in Congress proposes an energy tax in disguise that promises to artificially explode the cost of energy and, therefore, the cost of overhead in small businesses.
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