Both candidates have spent millions of dollars advertising to small businesses, advocating cutting corporate taxes, and discussing how to get the small business going again. However, one small business owner they've been ignoring is the Sole Proprietor. SP's are a very large demographic in the business owner community, and pay income taxes on their business as opposed to corporate taxes. President Obama for a while had the Payroll Tax cut, and lowered the Social Security rate. However, these are both expiring, which means that the SP will be paying these taxes again. There is an additional twist: sole proprietors pay both employer and employee payroll tax, which is increasing from 10.4% to 12.4%. 

One would think that Romney's camp would be taking advantage of this, but they have been oddly silent. This leads us to believe that they have a similar plan in place, and don't want to draw explicit attention to it. 

Small business owners should prepare themselves for tax increases, regardless of who is elected in three weeks. Begin finding ways to lower your taxable income, including qualified retirement plans like 401k plans and IRA's.