Report Examines President Obama's $4,000,000,000,000 (Trillion) Budget

Thomson Reuters Checkpoint has released a special report, President’s Fiscal Year 2016 Budget. The President’s budget contains a host of individual and business tax proposals. This report examines some of the budget’s highlights, including the President’s strategy to strengthen the middle class and help working families.

Key areas of the report include:

Individual Taxation – Middle Class Relief and Simplification
Individual Taxation – Increase Taxes on the Wealthiest
Business Tax Incentives
Small Business Incentives
U.S. Taxation of International Activity

“Of course, with a Republican Congress in place, many of the tax provisions in the President’s budget, particularly those that raise taxes, will not become law,” said Jeffrey Pretsfelder, senior tax analyst with the Tax & Accounting business of Thomson Reuters and author of the report. “Nonetheless, the Budget reveals a host of middle-income tax priorities and showcases some sweeping tax changes.”

The special report is available for download at no cost at tax.thomsonreuters.com/2016Budget.

For additional information on related tax guidelines, Thomson Reuters Checkpoint provides the following resources:

Federal Tax Coordinator
Tax Desk
RIA Federal Tax Handbook
U.S. Tax Reporter: Income
Webinars, including Monthly Tax Alert and Federal Tax Update
Online courses, including Obamacare: The Individual Mandate and Obamacare: The Employer Mandate

Accounting