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Brace yourself for theses upcoming changes in the tax law
November 30, 2012
Expiration of the Bush tax cuts Unless Congress acts and the President approves, the Bush tax cuts will expire at the end of this year and the top tax brackets will go back to where they were under President Clinton. The most notable changes are: ● The 33% bracket will go to 36% and the [...]
Read more...Should you sell stocks before capital gains rates rise?
November 29, 2012
For 2012, the maximum federal tax rate on long-term capital gains is 15%. Next year that rate is scheduled to rise to 20% when the Bush tax cuts expire. This will likely be negotiated further as our political leaders try to avoid the fiscal cliff but, as of this writing, the rate is scheduled to rise [...]
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