SKR+Co Alert: Election year
and expiring laws complicate year-end tax planning
October 11, 2012
Most 2012 income tax rates are scheduled to increase in 2013, and many tax breaks are set to expire. The two presidential candidates have vastly different proposals for addressing these scheduled changes. Whoever wins, there’s no guarantee that his proposal will become law. All of this uncertainty complicates traditional year end tax planning. This article provides an overview of various 2013 tax scenarios and how they might affect 2012 year end planning.
Read the Full Article HERE.
Topics in this article include:
Comparison of Obama and Romney tax proposals
AMT – Patch, repeal, or no action
Capital Gains Rate changes
Qualified Dividend tax treatment
Expired and expiring tax breaks
To be prepared for any situation, it’s a good idea for you and your tax advisor to review your year-to-date income, deductions, gains and losses and project what these amounts may be in 2013. You can then use this information as the 2013 tax landscape becomes clearer to quickly decide what steps to take by year end to achieve your goals.
The Fiscal Cliff: Tax changes are coming – Are you ready?
Mark your calendars for Monday, November 12th, 3:30 p.m.!
More details coming soon
If you have questions about the issues raised in this article or about our upcoming seminar, please let us know. You can call us at (719) 630-1186 or email us through our Secure Email.