Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

American Business Owners and the Nation’s Top Income Earners Face New Tax Law Changes: Little Time Remains, but End-of-Year Tax Help with Big Savings is Still Available
  • USA - English


News provided by

The Bamboo Agency2

Nov 20, 2013, 16:20 ET

Share this article

Share toX

Share this article

Share toX


"Many if not most American's have no idea what the tax implications are to their bottom line this year," says Pathfinder President and Tax Attorney, Drew Miles, "but they will be shocked and not in a good way."

Post this

Sebastian, Florida (PRWEB) November 20, 2013 -- ”Many, if not most American’s have no idea what the tax implications are to their bottom line this year,” says Drew Miles, President of Pathfinder Business Strategies, a tax attorney, author, lecturer and founder of one of the nation’s leading financial, tax consulting and tax strategy firms. “People are going to be shocked and it will be too late for them to do anything about it, unless they act now, there is less than 30 days left in the year do actually do something meaningful and valuable to help save money on your taxes this year,” says Miles, whose company has helped more than 7000 clients nationally since 1998 save more than half a billion dollars in taxes. (http://www.taxsavingprofessionals.com)

“If you are a business owner, a high net worth individual, a high-income earner, and you haven’t been paying attention to what is going on with the new tax laws and changes, you are going to be shocked, and not in a good way,” says Miles. “Unless of course you don’t care how much money the government is going to be taking from your income?”

According to Miles, “there are many, many high-income taxpayers now who are finding they are facing tax rates in excess of 50 %, high-income earners are seeing a combination of federal tax increases for 2013.” Among a host of others, here are just a few new startling tax facts that will impact Americans:

• Top marginal rate of 39.6 %, an increase from 35 %
• 20 % tax on long-term capital gains and dividends; an increase from 15 %
• 3.8 % tax on investment income

Most businesses have been paying quarterly estimated taxes based on their liability for 2012 which is fine according to the IRS and the “safe-harbor” rule, which still applies, according to Miles.

Where you are located in the country also impacts on your new tax rates and tax structure. In California, the “new” top rate is 13.3 % on income exceeding $1 million.

High-Net Worth Individuals will be Hit Hard
High net-worth and “wealthy” individuals are going to feel more than a little pinch to their pocketbooks, but more like the big arm of government swooping in to help themselves to a huge handful of cash to their bottom line.

• For example, the rate on long-term gains and qualified dividends can be up to 25 %. That’s a 67 % increase from 2012.
• Moreover, the rate on other investment income such as royalties, interest and rents can exceed 43 %.

The reach of these new tax laws stretch across the country to the other coast. New York is another prime example of a state where the “well-to-do” will be getting a gigantic governmental wallop to their wallet.

The Facts for married New Yorkers:

• Married $600,000 in wages,
• $100,000 in qualified dividends
• $300,000 in long-term capital gains
• $145,000 in itemized deductions

While New Yorker’s might generally be more accustomed to pay more for their Starbucks Double Espresso’s and higher taxi cab fares, residents of the Big Apple will pay 17 %, or $37,000, more in U.S. taxes this year.

Lawmakers also reinstated phase-outs of personal exemptions and itemized deductions for adjusted gross income exceeding $250,000 for individuals and $300,000 for married couples.

Good News, Bad News
On the one hand, observes Miles, the good news for investors is that this year’s stock market rally, specifically the Standard & Poor’s 500 Index is up 25 % through October. The bad news, however, is that these new tax laws will have serious tax implications for many investors with mutual funds that pay dividends. “When the dust begins to settle on this come next year, this could end up being the catalyst for another recession,” says Miles, “especially as it affects business owners. When all of this hits the economy and small business owners are paying more in taxes than they expected, that means there is less to invest in people, property, inventory; costs to operate business are skyrocketing, not to even mention what’s going on with healthcare, business owners and the wealthy are (going) to get hammered, and that is not going to be good for the working people of this country or the economy.”

A Free One-Hour Interactive Webinar
Pathfinder Business Strategies is offering business owners and high-income earners an opportunity to take advantage of the small window of opportunity, less than one month that remains this year to learn about how they can pay less taxes and keep more of their money in their pockets, where it belongs. “We have three weeks remaining where we can actually do work of value and importance to clients and prospective clients where we can save them money and help them pay less taxes to the government, after that, it’s out of our hands and in Uncle Sam’s hands, and we do mean that literally.” To sign up for this live interactive one-hour Tax Saving Webinar, click the link here: http://www.tax-saving-professionals.com/register-for-free-tst/.

About Pathfinder Business Strategies
Since 1998 Pathfinder Business Strategies (http://www.TaxSavingProfessionals.com) has helped more than 7,000 clients nationally save more than half-a-billion dollars in taxes. The average American pays 31% in taxes, the average Pathfinder clients pays 15% in taxes. Founded by tax attorney Drew Miles, Drew spent more than 6 years pouring over the IRS tax codes seeking ways in which he could reduce his own personal taxes. The majority of tax professionals regularly use between 15 and 20 tax strategies to help clients reduce their taxes. Pathfinder utilizes more than 400 rarely used, misunderstood or simply unknown tax strategies by the majority of tax professionals. These strategies were developed by Drew along with a team of tax lawyer’s and CPAs, including a former IRS Revenue Officer and a former prosecutor with the Department of Justice with a 100% conviction rate. Not one of Pathfinders tax saving strategies has ever been overturned by the IRS. Pathfinder Business Strategies achieves this through record keeping and documentation combined with diligent compliance for provisions in the tax code supervised by the company’s team of tax professionals -- CPA’s, Attorneys, Enrolled agents and a host of paralegals. Drew Miles is an accomplished entrepreneur, author and lecturer.

Company Website: http://www.TaxSavingProfessionals.com
Media Contact: Jeff Mustard: 954-801-8263 | email: [email protected] | http://www.TheBambooAgency.com

Jeff Mustard, The Bamboo Agency2, http://www.TheBambooAgency.com, +1 9548018263, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.