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There is no other way to describe the state of year end 2012 tax planning other than confusing, uncertain, and potentially very messy. The combination of the "Fiscal Cliff", Bush tax cut expirations, and Obamacare taxes, creates an uncertain environment, especially considering post election changes. Nonetheless, year-end tax planning must be based upon what is currently the law, while maintaining flexibility for potential changes in the coming year. Consideration of potential changes, whether they be for 2013, or retroactive for 2012, is essential.
As trusted advisors, Marcum LLP understands the benefits of planning ahead. Now more than ever, taking steps to ensure your financial future is a matter of critical importance.
Inside Marcum's Tax Guide, you will find articles about upcoming tax changes created by the Affordable Care Act, tuition planning, energy efficiency provisions, and more. We hope you find this information valuable as you consider your own situation.