Top Tax Tips
This is a good time to realize capital gains! As the Bush
tax cuts are set to expire it is likely that capital gains tax will increase
from a rate of 15% or lower in some cases to 20%. The time is now to divest of
that appreciated rental property that you have wanted to sell or that stock
that no longer makes sense for you but has some gain.
Medical expenses will be harder to deduct in 2013. The
threshold to start deducting will increase from 7.5% of your adjusted gross
income to 10% for most people! If you need to schedule medical procedures act
now and pay in 2012.

Last Updated: October 3, 2014 by Tax Consultant · Leave a Comment
Top Tax Tips for 2012
Top Tax Tips
This is a good time to realize capital gains! As the Bush
tax cuts are set to expire it is likely that capital gains tax will increase
from a rate of 15% or lower in some cases to 20%. The time is now to divest of
that appreciated rental property that you have wanted to sell or that stock
that no longer makes sense for you but has some gain.
Medical expenses will be harder to deduct in 2013. The
threshold to start deducting will increase from 7.5% of your adjusted gross
income to 10% for most people! If you need to schedule medical procedures act
now and pay in 2012.
Categories Tax Blog
Phoenix Tax Consultants
Phoenix Tax Consultants LLC has over 30 years of local tax preparation, tax planning, and audit experience. Don't trust your return to anyone, go with the experts!
“Tax Tacklers” Blog
Julie on Money Matters