Now that the election is over there is no end to the pundit’s comments about what the next four years are going to look like. Several clients are reviewing their yearend tax strategy and taking advantage of the currently lower capital gains. I’ve had discussions with other financial professionals that they have small business owners that have decided to sell their business and want the deal closed before the end of the year. It’s like the election built a fire under all the unprepared people to get something done now.
There is no question that the business environment is in a state of turmoil. With the new rules and regulations of the health care program, “Obamacare” and the “fiscal cliff” that is approaching, there is a lot of uncertainty. But there is always uncertainty in the market. Here in the California Inland Empire I still see a lot of businesses moving forward. There are questions but there is still a lot of opportunity.
There are many items in Obamacare that are still open. Many experts in healthcare will have numerous seminars to explain what they don’t know, and there is a lot they don’t know. There are many facets that are supposed to begin in 2013 of the law that are just now coming to light because they will have to be implemented. Both the states and federal government is behind in getting ready for the changes. Business leaders will need keep in touch with their health care brokers to understand the mandatory changes. Leaders will also need to keep in contact with their tax professionals because Obamacare is not just about healthcare, there are many parts of the law that address information and tax increases.
Honestly, no one has all the answers and there are many different opinions, including mine. It will be hard to sort it out, but business leaders need trusted advisors to help make the best decisions for their company. B2B CFO can help. We have 200+ partners that cover a broad range of experience and expertise. Collectively we have over 6,000 years of collective experience.