January 24, 2013
We would like to share this article on the recent tax changes approved by Congress.
Taxes Rise For High Earners as Congress Remedies Fiscal Cliff Fall, Putnam
These measures will have a significant impact on high-income earners, i.e individuals with income over $250,000 ($300,000 for couples). Depending on your particular situation, there are strategies that we can discuss with you in order to mitigate the effects of the tax hikes, such as:
- Reducing investment income by utilizing tax-efficient investment models;
- For those who are self-employed, identifying and implementing a retirement plan that allows for the maximum deferral amount;
- For business owners, reviewing your corporate election in conjunction with your tax advisor.
Please give us a call if you would like to discuss any of these suggestions or, as usual, if you have any questions regarding your finances.
The Team at D. M. Brenner & Assoc.