Tax laws often change. Certain items have minor implications; others can completely change your tax planning strategy. Changes scheduled to come in 2013 are large. The following will provide you with insight into what the new taxes mean to you and your tax planning strategy.
Specifically, five tax issues will be discussed: The AMT patch, the Medicare Payroll tax hike, the new 3.8% tax on investment income, the reduction of allowable itemized deductions, and the personal exemption phase‐out for high‐income earners. For all issues, analyses will be given. In order to present accurate and comparable data, the following tax attributes will be used throughout the article.
Read the whitepaper: Taxmageddon 2012