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Tax Outlook: 2012 and Beyond

Tax Outlook: 2012 and Beyond. Robert A. Gambardella, CPA CTC. “Marginal” Tax Rates. Source: TruthandPolitics.org. “Taxmageddon!”. Bush tax cuts expire Payroll tax cuts expire AMT “patch” expires Medicare taxes kicks in Estate taxes revert to Bush-era levels

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Tax Outlook: 2012 and Beyond

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  1. Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC

  2. “Marginal” Tax Rates Source: TruthandPolitics.org

  3. “Taxmageddon!” • Bush tax cuts expire • Payroll tax cuts expire • AMT “patch” expires • Medicare taxes kicks in • Estate taxes revert to Bush-era levels • Spending “sequester” kicks in

  4. “Bush” Tax Cuts Expire

  5. Bush Tax Cuts: Capital Gains

  6. Bush Tax Cuts: “Qualified” Dividends ?

  7. Business Tax Changes • Extend “first-year expensing” to $500,000 • Extend 50% “bonus depreciation”

  8. Payroll Tax Relief Expires • Cut FICA/SE tax by 2%

  9. AMT Patch Expired

  10. Estate Tax Comes Back to Life

  11. 2013 Outlook

  12. 2013 Outlook

  13. What Now?

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