William Byrnes' Tax, Wealth, and Risk Intelligence

William Byrnes (Texas A&M) tax & compliance articles

Posts Tagged ‘Bush Tax Cuts’

The Fiscal Cliff Conclusion: Compromise Continues Tax Cuts for Many, But Not All

Posted by William Byrnes on January 2, 2013

In the first moments of 2013, Congress eased the fiscal cliff tax increases for taxpayers earning less than $450,000 by enacting the American Taxpayer Relief Act (Act), permanently extending the Bush-era income tax cuts for this group. … While the legislation extends the current income tax rates for taxpayers earning less than $450,000 ($400,000 for single filers) per year, it allowed the Bush-era tax cuts to expire for all higher-income taxpayers.  Similarly, taxes on capital gains, dividends, and estates were increased for the wealthiest taxpayers.

How Were Income Taxes Increased by the Fiscal Cliff Compromise?

How Does the Act Impact the Current System for Tax Deductions and Exemptions?

Were Capital Gains and Dividend Rates Impacted by the Act?

How Are Estate and Gift Tax Rates Affected?

What Other Changes Were Made?

Beyond the Act: What is the “Investment Income Tax”?

Planning Under the Act: How Should Clients Plan for Higher Taxes in 2013?

Read the analysis at National Underwriters’ Advanced Markets – http://nationalunderwriteradvancedmarkets.com/articles/fc010113-a.aspx?action=16

Posted in Estate Tax, Retirement Planning, Tax Policy, Taxation, Wealth Management | Tagged: , , , , , , , , | Leave a Comment »

Room for compromise: eliminating the fiscal cliff with current tax rates

Posted by William Byrnes on November 23, 2012

… While most compromise legislation has focused on allowing some of these rates to rise while maintaining current rates for lower-income groups, Congress may beable to leave most tax rates in place if they focus on capping deductions and reducing spending for all taxpayers. Of course,

US Tax Rates (Taxes on riches/wealth)

US Tax Rates (Taxes on riches/wealth) (Photo credit: mSeattle)

Read the entire article at National Underwriters’ –> Life Health Pro <–

Posted in Estate Tax, Tax Policy, Taxation | Tagged: , , | Leave a Comment »

Bush Tax Cuts Set to Expire

Posted by William Byrnes on September 13, 2010

Why is this Topic Important to Wealth Managers? Provides a basic overview of the tax cut provisions that are in effect but set to expire by the end of this year.  Helps financial professional understand implications regarding client’s estate and personal plans in consideration of the Bush Tax Cuts.

As busy as Congress has been over the last year, it’s “finally turning its attention to the expiring 2001 and 2003 tax cuts”, says Robert Rubin who is co-chairman of the Council on Foreign Relations and former Secretary of the U.S. Treasury.  Read the entire analysis at AdvisorFYI

Posted in Tax Policy | Tagged: , , , , , , , | Leave a Comment »

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