Bush-era Tax Cuts to expire at end of 2012

  • 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).