Capital Gains Tax

As I discussed in last week’s blog, the fiscal cliff legislation, officially known as the American Taxpayer Relief Act of 2012 (“ATRA”) included increases in income tax rates for high-earners. For couples earning more than $450,000, the top ordinary income tax rate went up to 39.6% and the rate for long-term capital gains and qualified dividends went to 20%. As I mentioned last week, in addition to the fiscal cliff changes, the 3.8% surcharge from “Obamacare” brings the new capital gains tax … [Read more...] about How a CRT Can Help Defer and Reduce the Impact of ATRA

We all know that the fiscal cliff legislation, officially known as the American Taxpayer Relief Act of 2012 (“ATRA”) made the estate, gift, and generation-skipping tax exclusion “permanent” (whatever that means in Washington) at $5 million (inflation adjusted). But, the legislation also included increases in income tax rates for high-earners. In fact, for couples earning more than $450,000, the top ordinary income tax rate went up to 39.6% and the rate for long-term capital gains and qualified … [Read more...] about Capital Gains Taxes Increase