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2013 tax changes may force businesses to raise prices

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MONROE, La. (KNOE 8 News) - It's what some are calling, "Taxmegedon",  2013 tax changes could dramatically affect our local businesses and their employees.

Jim Bershen is the CEO of Scott Equipment, a multi-state equipment rental company headquartered in Monroe. He's concerned looming tax changes will force him and other businesses to raise prices.  "Just how much I don't think anyone knows at this time," said Bershen.

The changes come as bush tax cuts are set to expire and the Affordable Care Act mandates will begin. On top of that, a handful of new tax law regulations will go into effect, with several regulations pending as congress and the president try to avoid the "fiscal cliff"

All of it, leaving business owners trying to figure out how it will affect their bottom lines. "There's not any room to absorb all of the costs we've heard about. Not only in taxes but health care" said Bershen.

So many changes will go into effect next year that many business owners are doing whatever it takes to educate themselves about the differences. In an attempt to get a handle on all of the information, Bershen along with other business owners, attended a Monroe Chamber of Commerce workshop. The workshop offered a panel of expert's interpretations of the new tax regulations. "We're actually here to hear a summation of all that and see exactly how it is going to affect our business," said Bershen.

But until all the tax regulations are set in stone, Bershen says his company is just taking it one day at time, preparing for all possible outcomes.

 

 

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