In these uncertain times, it is imperative to plan for our tax liability and the potential impacts of future legislation. Since, Congress has been stuck in a stalemate for most of 2012, there has been very little new tax law and a number of tax provisions have expired. Consequently, as we wait for Congress to address the “fiscal cliff” and how the tax landscape will look going forward, 2012 becomes a “back to basics” year of tax planning.
In our annual individual tax planning ideas, we have outlined the strategies that we think will have the biggest impact to you for the remainder of the year. There is a lot of good information in this article and an outline of traditional planning strategies.
Please let us know if you have any questions or need any additional information. Click here to check out the full article.