Linda’s Tampa Bay 10 Interview
Our very own Linda Griffin was a guest Friday December 7, 2012 on Tampa Bay 10 News to discuss the tax increases in 2013. To watch the full interview with Linda Griffin, please click on the following link:
These tax increases include the following:
1) the anticipated reduction of the estate and gift tax exclusions from $5.120 million to $1 million and the increase in the maximum gift and estate tax rates from 35% to 55%;
2) the 3.8% surtax on net investment income (interest, dividends, capital gains, non-qualified annuity distributions, rental income and royalty income) for high-income taxpayers and trust and estates;
3) the top marginal federal income tax rates will increase from 35% to 39.60%; and
4) Medicare taxes will increase from 2.9% to 3.8% for each individual.
Advice: If you are worried about these tax increases in 2013, then you should contact your lawyer or accountant to discuss potential planning opportunities before year end.