December 7, 2012

Ways to protect yourself from 2013 tax hikes

Income taxes are going up next year, and not just for those who earn more than $200,000 a year.

“Taxes are likely to be higher for everyone” says financial planner Rick Rodgers, author of “The New Three-Legged Stool: A Tax Efficient Approach To Retirement Planning.”

“We all know about the expiring Bush tax cuts, which may or may not be extended for everyone or just some,” he said. “There are also new taxes that were part of the health-care reform law passed in 2010; the expiring payroll tax cut; the alternative minimum tax that already expired in 2011, and many other provisions…

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