Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.
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Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC
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Transcript of Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.
![Page 1: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/1.jpg)
Tax Outlook: 2012 and Beyond
Robert A. Gambardella, CPA CTC
![Page 2: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/2.jpg)
“Marginal” Tax Rates
Source: TruthandPolitics.org
![Page 3: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/3.jpg)
“Taxmageddon!”
• Bush tax cuts expire• Payroll tax cuts expire• AMT “patch” expires• Medicare taxes kicks in• Estate taxes revert to Bush-era levels• Spending “sequester” kicks in
![Page 4: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/4.jpg)
“Bush” Tax Cuts Expire
![Page 5: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/5.jpg)
Bush Tax Cuts: Capital Gains
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Bush Tax Cuts: “Qualified” Dividends
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Business Tax Changes
• Extend “first-year expensing” to $500,000• Extend 50% “bonus depreciation”
![Page 8: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/8.jpg)
Payroll Tax Relief Expires
• Cut FICA/SE tax by 2%
![Page 9: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/9.jpg)
AMT Patch Expired
![Page 10: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/10.jpg)
Estate Tax Comes Back to Life
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2013 Outlook
![Page 12: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/12.jpg)
2013 Outlook
![Page 13: Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.](https://reader035.fdocuments.us/reader035/viewer/2022062422/56649eeb5503460f94bfc6c3/html5/thumbnails/13.jpg)
What Now?