Change - You Can Count On It!
January 31, 2012
One thing I have learned in my time as a CPA is that you can always count on change! If you don't like how things are today, well...just wait until tomorrow. We spend a lot of time and effort to keep up to date on changes in the tax laws - a seemingly endless task to be sure!
2011 marks the end of some tax law provisions that may be of interest to you. The landscape changes for 2012 and 2013. Keep in mind that congress is fickle (no, really they are!) and we expect that there will be additional changes enacted during 2012 that will continue to make tax planning a challenge. One of the changes I anticipate is with the alternative minimum tax (AMT). Though the exemption amounts are set to decrease significantly this year, congress has established a long track record of extending the higher exemption amounts. Unfortunately they also have a record of waiting until just before their holiday break in December to take care of these things. So, once again, we'll likely have to wait nearly another year to find out if it is fixed once again.
To help our clients and friends keep current on changes in legislation we have provided a link to a short video presentation with more details on what to anticipate for 2012 and 2013. Select the link below to open our presentation. If you have further questions or concerns please feel free to give us a call!