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Organizational Tax and Planning - Tax Reform - Research Paper Example

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Masters
Research Paper
Finance & Accounting
Pages 8 (2008 words)

Summary

Organizational Tax Research and Planning Name: Institution: In order to restore the economy of America, different tax provisions to bring about development, job creation and growth of the economy have been made. Based on my research, the proposal that I believe to be the most viable and financially attractive to America’s economy and to the taxpayersis the temporary tax relief to create jobs and jumpstart growth…

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Organizational Tax and Planning - Tax Reform

I believe that this proposal is the most viable because it will have huge financial benefits on both the workers and corporate taxpayers. The proposal will also be extremely beneficial to workers who have been hit by the recession immensely. In addition, more jobs will also be created in the economy. Reduction of payroll taxes also acts as financial assistance to middle and low class families. Provision of a 10% tax credit for new jobs and wage increases will stimulate job creation in the corporate world thus putting more Americans back to their jobs. Therefore, the tax relief targeted at small businesses will act a strong foundation for recovery from the economic recession (Department of the Treasury, 2012). This proposal can be implemented by providing qualified employers with wage increases accompanied by a tax credit (Committee on Ways and Means, 2013). The tax credit should be equal to 10% of the increase in the employer’s wage increase. The maximum amount of the increase could be set at five million dollars per employer. On the other hand, the maximum credit should be $500,000 in order to focus on the benefits accruing to the small businesses (Urban-Brookings Tax Policy Center, 2013). Indeed this proposal is the most viable. ...
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