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|Subject: Fiscal Cliff Tax Changes||Date: 1/1/2013 5:52 PM|
|Author: pauleckler||Number: 71173 of 75335|
The best summary I have seen of the new tax compromise passed by the US Senate and now pending in the house is here--
>Dividends and Capital gains stay at 15% for most of us, but go to 20% for incomes over $400k single/$450k married permanently.
>Estate tax to 40% for amounts over $5mm single or $10mm family permanently.
>AMT indexed to inflation permanently
>Extends unemployment, the farm bill, delays fiscal cliff spending cuts and Medicare payment cuts to physicians
>No action on the temp reduction in withholding or the debt ceiling. Republicans still want more cost cutting.
I saw an AP story indicating changes in the rules for conversion of IRAs to a Roth, but search turned up no details.
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