- The Lowest income tax rate jumps from 10% to 15%
- The top tax rate climbs from 35% to 39.6%
- Long-term capital gains tax rate climbs from 15% to 20%
- Dividends will be taxed at substantially higher rates
- The 2% payroll tax credit expires, and much more...
- The lifetime estate and gift tax exemption will decrease from $5 million to $1 million
May 10, 2012
YOUR US INCOME and TAXES MAY GO UP ON 1/1/13
Unless Congress takes action and passes new tax law (and that will not happen until after the Presidential election , a tax Bomb will go off on January 1, 2013 which could cause you adverse consequences.
Now is the time to do your income and estate tax planning in the event Congress does not take any action to stop these increases. We can help. www.TaxMeLess.com