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Sell Now – Capital Gains Tax Goes Up in 2013

From the Tax Prof Blog citing the WSJ. George Lucas isn't alone. Business owners race to their sell businesses in 2012 to avoid higher capital gains tax in 2013. Wall Street Journal:  Looming Tax Hike Motivates Owners to Sell, by John D. McKinnon: A looming increase in the capital-gains tax rate next year is fueling sales of some privately-held businesses. Many business owners—mostly founders who could gain a lot from a sale—are looking to close…

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2013 Income Tax Rates Will Go Up

If Congress and the President do nothing, income tax rates will go up in a big way in 2013. Here is what it will look like. Individual Income Tax Rates Tax Brackets (2012 Dollar Amounts) Marginal Rate Unmarried Filers Married Joint Filers Over But Not Over Over But Not Over 2012 2013 $0 $8,700 $0 $17,400 10% 15% 8,700 35,350 17,400 70,700* 15% 15% 35,350 85,650 70,700* 142,700 25% 28% 85,650 178,650…

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