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Tax Problems for Agents

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Later this year, tax cuts passed by the Bush administration are set to expire, likely meaning tax increases for many insurance agency owners. Combined with a looming increase in estate taxes in 2011, agents are increasingly worried about what will happen come the end of this year. Charles Symington, senior vice president of government affairs for the Independent Insurance Agents and Brokers of America, says the upcoming tax issues facing agents will be a major focus for the trade group this year.

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