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Congress passed the American Taxpayer Relief Act of 2012 on January 2^nd, averting the fiscal cliff. But, what did that Act do? Download our 30^th Annual Tax Letter to find out!

In This Issue:

• Tax Rates — For most Americans, tax rates will stay the same for 2013, as they were in 2012.
• Alternative Minimum Tax — Gone are the days of waiting for Congress to enact its annual AMT patch.
• Education Provisions — To help offset the ever-increasing cost of education, Congress has extended several popular education provisions (although not permanently).
• 2% Employee Social Security Break – This provision was allowed to sunset.
• Estate Taxes — Your children have been dying to learn about this provision!
• Capital Gains and Qualified Dividends – Learn how you will be affected.
• Phase-Outs – Learn what will happen with personal exemptions and itemized deduction phase-outs.
• Depreciation — Congress didn’t fail to deliver on a belated Christmas present to businesses having purchased or planning to purchase fixed assets!
• Tax-Free Sale of Business Stock — This is a provision that has been modified and extended many times over the years and is often overlooked as a long-term planning strategy.
• Important Facts & Figures – Including the standard business mileage rate, Social Security wage base, and earnings limits for Social Security recipients.
• 2013 Contribution Limits – How will your plans be affected?

Next Month’s Issue – The Affordable Care Act

Many changes begin for both individuals and businesses in 2013 as a result of the Affordable Care Act. Accordingly, we are devoting next month’s newsletter to these provisions, as well as, a special section on our website. Look for this the first of February.