2013 tax changes may force businesses to raise prices - KNOE 8 News; KNOE-TV; KNOE.com |

2013 tax changes may force businesses to raise prices

Posted: Updated:

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.

 

 

  • Most Popular StoriesMost Popular StoriesMore>>

  • Ten African American Officers quit Monroe Police Union

    Ten African American Officers quit Monroe Police Union

    Thursday, August 21 2014 5:47 PM EDT2014-08-21 21:47:32 GMT
    MONROE, La. (KNOE 8 News) - Three weeks ago the police union overwhelmingly voted "no confidence" in Monroe Police Chief Quentin Holmes. But Thursday, ten African American Monroe officers have voted "no confidence" in the union and they have pulled their memberships.
    MONROE, La. (KNOE 8 News) - Three weeks ago the police union overwhelmingly voted "no confidence" in Monroe Police Chief Quentin Holmes. But Thursday, ten African American Monroe officers have voted "no confidence" in the union and they have pulled their memberships.
  • 18-wheeler fire halts I-20 traffic

    18-wheeler fire halts I-20 traffic

    Thursday, August 21 2014 12:39 PM EDT2014-08-21 16:39:48 GMT
    VICKSBURG, Miss. (KNOE 8 News) - Mississippi State Police are reporting an accident on I-20 between Vicksburg and Jackson involving two 18-wheelers. The crash has brought traffic to a standstill in all directions.
    VICKSBURG, Miss. (KNOE 8 News) - Mississippi State Police are reporting an accident on I-20 between Vicksburg and Jackson involving two 18-wheelers. The crash has brought traffic to a standstill in all directions.
  • New restrictions on hydrocodone to take effect

    New restrictions on hydrocodone to take effect

    Thursday, August 21 2014 12:07 PM EDT2014-08-21 16:07:39 GMT
    WASHINGTON (AP) - The federal government is finalizing new restrictions on hundreds of medicines containing hydrocodone, the highly addictive painkiller that has grown into the most widely prescribed drug in the U.S.
    WASHINGTON (AP) - The federal government is finalizing new restrictions on hundreds of medicines containing hydrocodone, the highly addictive painkiller that has grown into the most widely prescribed drug in the U.S.
  • Monroe grocery store workers plead guilty to SNAP fraud

    Monroe grocery store workers plead guilty to SNAP fraud

    Wednesday, August 20 2014 5:24 PM EDT2014-08-20 21:24:37 GMT
    MONROE, La. (KNOE 8 News US Attorney's Office) - Three Monroe grocery store workers pleaded guilty this week for their roles in a scheme to exchange SNAP and WIC benefits to customers for cash and ineligible items.
    MONROE, La. (KNOE 8 News US Attorney's Office) - Three Monroe grocery store workers pleaded guilty this week for their roles in a scheme to exchange SNAP and WIC benefits to customers for cash and ineligible items.
  • Mother of Mo'Ne Davis is Proud Parent

    Mother of Mo'Ne Davis is Proud Parent

    Wednesday, August 20 2014 9:20 AM EDT2014-08-20 13:20:34 GMT
    PHILADELPHIA (CBS)- "Wonderful." Lakeisha McLean, Mo'ne Davis' mom, is nearly speechless.
    PHILADELPHIA (CBS)- "Wonderful." Lakeisha McLean, Mo'ne Davis' mom, is nearly speechless.
  • Louisiana Tech researchers use 3D printers to create custom medical implants

    Louisiana Tech researchers use 3D printers to create custom medical implants

    Thursday, August 21 2014 12:11 PM EDT2014-08-21 16:11:30 GMT
    RUSTON, La. (KNOE Louisiana Tech University)– A team of researchers at Louisiana Tech University has developed an innovative method for using affordable, consumer-grade 3D printers and materials to fabricate custom medical implants that can contain antibacterial and chemotherapeutic compounds for targeted drug delivery.
    RUSTON, La. (KNOE Louisiana Tech University)– A team of researchers at Louisiana Tech University has developed an innovative method for using affordable, consumer-grade 3D printers and materials to fabricate custom medical implants that can contain antibacterial and chemotherapeutic compounds for targeted drug delivery.
  • Low-Cost Vaccination Day for the 71202 Zip Code

    Low-Cost Vaccination Day for the 71202 Zip Code

    Thursday, August 21 2014 12:32 PM EDT2014-08-21 16:32:12 GMT
    North East, La. (KNOE PAWS of NE Louisiana)- To residents of the 71202 area code, could you be breaking the law by not having pets vaccinated and wearing a current ID tag?
    North East, La. (KNOE PAWS of NE Louisiana)- To residents of the 71202 area code, could you be breaking the law by not having pets vaccinated and wearing a current ID tag?
  • Gucci Mane sentenced to federal prison for firearms charge

    Gucci Mane sentenced to federal prison for firearms charge

    Thursday, August 21 2014 9:10 AM EDT2014-08-21 13:10:27 GMT
    Atlanta, Ga. (CNN)- Rapper Gucci Mane is headed to prison. He was sentenced Wednesday in Atlanta to three years and three months in federal prison on firearm charges.
    Atlanta, Ga. (CNN)- Rapper Gucci Mane is headed to prison. He was sentenced Wednesday in Atlanta to three years and three months in federal prison on firearm charges.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.