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I have been posting here about how CPA's and Tax Pro's are freaking because their is no code to go foward with to prepare for tax planning, and the AMT that might hit as many as 32 million households...

But quite frankly many here are not even interested.

But @ Lunch with my CPA friend yesterday, I got even more info...

The 2003 Bush Tax Cuts expire too, preferred dividends, gone.

But more importantly the MACRS Depreciation Schedules Change, 179 Depreciation goes away as does Accelerated Depreciation.

Many small business men and women who are struggling on the margins and know this, and this on top of all the regulatory burden of Obamacare and the fact they can't get bank loans post Dodd-Frank many can't see themselves as "going forward organizations" and will close down on 12/31/12. IMHO watch for unemployment numbers for December to make a spike that will shock many. Elections have consiquences, talk to your CPA's their is a $&!+ storm coming and no one sees it...