October 08, 2013
Joseph Perry, Partner-in-Charge, Tax & Business Services, Quoted in San Francisco Business Times Article "Tax Shock: Wealthy to be 'Very Surprised' in 2013"
By Mark Calvey
There has been no shortage of media coverage on this year's higher tax rates and new taxes, but accountants expect many of their clients to still be surprised when the bill comes due next April.
My take: You can count on it.
And next year will be too late for the wealthy to take steps this year to reduce taxes owed for 2013.
Marcum, the New York accounting firm with a Bay Area office, says it debuted an online tax calculator to help clients avoid nasty surprises next year.
"Most people are aware of the increase in tax rates, but have not focused on how the new rates will impact them in real dollars," said Joseph Perry, partner-in-charge in Marcum's tax and business services practice.
"Many are likely to be very surprised when they receive their 2013 projections, extensions or actual returns and find out how much they owe."