- Reduced maximum capital gains rate expires
- Taxation of qualified dividends at capital gain rates will not apply
- Accumulated Earnings Tax increases to 39.6 (that is for “C” Corporations with lots of Retained Earnings–you know who you are)
- Personal holding company tax rate increases to 39.6
Additionally, social security being withheld for 2012 on payroll is 4.2%. That will increase to 6.2%. That is 2% out of your pay. It has been 4.2% for two years.
There is much more that is changing. This is just a few highlights important to most people (opinion soley mine).