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2012 Expiring Tax Incentives

Tax | Estate Law Planning – Articles 2012 Expiring Incentives 2012 began with great uncertainty over federal tax policy and now, with the end of

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Tax Planning Part II

Higher Education Costs The deduction for higher education costs expires at the end of 2009. In addition the American Opportunity Credit replaces the Hope Credit

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Tax | Estate Law Planning – Articles

2012 Expiring Incentives

2012 began with great uncertainty over federal tax policy and now, with the end of the year approaching, that uncertainty appears to be far from any long-term resolution. A host of reduced tax rates, credits, deductions, and other incentives (collectively called the “Bush-era” tax cuts) are scheduled to expire after December 31, 2012. To further complicate planning, over 50 tax extenders are up for renewal, either having expired at the end of 2011 or scheduled to expire after 2012. At the same time, the federal government will be under sequestration, which imposes across-the-board spending cuts after 2012. The combination of all these events has many referring to 2013 as “Taxmeggedon.”
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