It's unlikely to be a Happy New Year for most Americans. Why?
- Personal income tax rates will rise on January 1, 2013.
- Higher taxes on marriage and family coming on January 1, 2013.
- Middle Class Death Tax returns on January 1, 2013.
- Higher tax rates on savers and investors on January 1, 2013.
- The Obamacare Medical Device Tax begins to be assessed on January 1, 2013.
- The Obamacare “Haircut” for Medical Itemized Deductions goes into force on January 1, 2013.
- The AMT will ensnare over 31 million families, up from 4 million last year.
- Full business expensing will disappear.
- Taxes will be raised on all types of businesses.
- Tax Benefits for Education and Teaching Reduced.
- Charitable Contributions from IRAs no longer allowed.
h/t Bill via email. Full story here.
Hey, we all have tax problems. Get over it.
With hope and small change,
Barack