Get Ready for a New Tax on January 1, 2013!

It is really happening. A new 3.8% tax increase will start Jan 1, 2013.

This new surtax will be assessed on married taxpayers filing jointly, the threshold  income amount is $250,000; married filing separately, $125,000; all other individual taxpayers, $200,000. For trusts and estates, it is the beginning of the top income tax bracket ($11,650 in 2012).

The good news is that there are some steps you can take this year to help you avoid or reduce the amount of surtax beginning in 2013.

This [3.8%] tax alone makes accelerating investment income into 2012 profitable for many taxpayers. Roth conversions in 2012 should be considered.

Now, more than ever, you need the assistance of experienced professionals to advise you and help you implement the best plan for you and your family.



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