Investors fear higher taxes

U.S. business owners and investors are scrambling to shield themselves from potentially higher taxes next year, reports The New York Times.

Read: Brace for the 2% wealth surtax

Their goal is to record as much of their future income this year as they can, so some are going as far as selling their businesses, one-time dividends and big-winning stocks as soon as possible.

Additionally, fears of global weakening economies and of a fiscal impasse in Washington have pushed the benchmark Standard & Poor’s 500-stock index down approximately 5% since the election.

Read more on how investors are reacting to tax changes and the shifting global economy.

Also read: Tax tips for cross-border clients

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.