In 2013, tax rates are higher and new taxes, such as the 3.8 percent net investment income tax, become effective making tax planning more important (and difficult) than ever. These changes will cause some items of income to be taxed at rates that are almost 60 percent higher than they were in 2012. Other rules, such as the tangible property capitalization regulations, are just beginning to be released which will cause further complications. Learn more about new tax laws that have been enacted, previously enacted laws that are now just becoming relevant, pending legislative activity, and opportunities to position you and your business to manage your current and future tax liabilities.
At the conclusion of this session, participants will:
- Understand how increased tax rates will affect them and their businesses
- Understand the breadth of the new 3.8 percent net investment income tax and how its impacts them
- Understand how other new tax laws will impact tax liabilities for 2013 and later years
- Be able to identify tax planning opportunities at both the business and personal levels to reduce their exposure to the higher rates and the new taxes
James Minutolo and Kurt Piwko of Plante Moran’s National Tax Office