Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC.

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Presentation transcript:

Tax Outlook: 2012 and Beyond Robert A. Gambardella, CPA CTC

“Marginal” Tax Rates Source: TruthandPolitics.org

“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

“Bush” Tax Cuts Expire

Bush Tax Cuts: Capital Gains

Bush Tax Cuts: “Qualified” Dividends ?

Business Tax Changes Extend “first-year expensing” to $500,000 Extend 50% “bonus depreciation”

Payroll Tax Relief Expires Cut FICA/SE tax by 2%

AMT Patch Expired

Estate Tax Comes Back to Life

2013 Outlook

What Now?