J. S. James, CPA

J. S. James, CPA J. S. James CPA is a Fresno, CA based firm that specializes in Business Consulting and Mobile Tax Preparation.

02/02/2020

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01/30/2012

Upcoming Tax Changes

There are several interesting tax changes to note in the coming year. Qualified Dividends previously taxed at 15% will now be taxed as ordinary income in tax year 2013. Additionally, the long term capital gains rate jumps from 15% to 20% starting in 2013.

These two items should be noted now as they should affect how you view various investment decisions during the year. You should value qualified dividend producing equities less and think about taking large long term capital gains you have stored up in your portfolio in 2012.

There is a new tax being implemented in 2013 to fund the new health care plans. This is a 3.8% tax on Modified Adjusted Gross Income over $200,000 for individuals and over $250,000 for married filers. There are several ways to reduce your exposure to this tax should you be at risk. One simple way is to move some bond holdings to tax exempt municipal bonds. For other ideas come see me.

Best,
Jeff

Address

2525 Alluvial
Clovis, CA
93611

Telephone

(559) 480-2433

Website

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