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2013 Major Tax Increases On The Horizon.

Now that Congress has extended the president’s requested Payroll Tax Holiday, America may want to spend it while they got it. Without significant tax code changes, in 2013, America is scheduled to get hit with what would be the largest tax increase in our history.
Not only will the $1,000 per year tax holiday for a $50,000 income household disappear, come 2013 all Americans will see the tax on their first $8,700 of income jump from a 10% rate to 15% rate.
That hike will cost the majority of filers an additional $435.
For those eligible for child care tax credits that deduction will drop from $1,000 to $500. The marriage penalty will roar back into effect. The AMT, alternative minimum tax, will finally kick in.

3 Comments to 2013 Major Tax Increases On The Horizon.:

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Accountants Birmingham on Monday, December 10, 2012 3:21 AM
Nice thing sharing by you regarding the increment in the Payroll Tax Holiday in America. I like this information.
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auto accident lawyers sydney on Monday, May 27, 2013 6:40 AM
the news that 2013 Major Tax Increases On The Horizon is so important. thanks for such a tip on tax related issue.This is very effective way of writing a blog, I am really impressed from such type of comments, keep it continue in the future.
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Online Strategy in Sydney on Tuesday, July 02, 2013 4:22 AM
It is really a bad news and especially for middle class families. I would like to know more on this topic.
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