December 26, 2013
Joseph Perry, Partner-in-Charge, Tax & Business Services, Featured on CNBC Squawk On The Street's Segment "Big Tax Surprise Looming For High Earners"
Attention high-income earners: Be prepared to pay more in this year's tax bills.
How much more? That depends on your income, deductions and exemptions, but according to Joe Perry, a partner overseeing tax and business services at Marcum, about 1,200 of his clients earning more than $400,000 will see their 2013 tax bills grow by an average of 7 percent compared to 2012. The changes amounted to a total of $250 million more in taxes this year, he told CNBC on Thursday.
"People are aware of the changes, but I don't think they are prepared for the changes," Perry said on "Squawk on the Street."
|Joseph Perry, Marcum Partner, explains why high income earners are in for a big tax shock this year and shares how effective tax planning can help ease the tax bill.|