What Does the Fiscal Cliff Deal Mean to Taxpayers?

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Contributing Editor of J.K. LASSER’S YOUR INCOME TAX 2013 Answers This Question

J.K. Lasser's Your Income Tax 2013

"although most of the drama in Washington was about changes to tax rates and rules in 2013 and beyond, there are changes right now that will take effect immediately"

John Wiley & Sons, Inc. – The country watched and waited with bated breath for Washington to reach a “fiscal cliff” deal at the beginning of 2013, and now, many taxpayers are wondering how the new law will impact them. For 2012, familiar tax breaks have been extended, and most taxpayers will find that the same tax rates, deductions and same credits that apply to 2012 taxes will also apply for 2013.

Barbara Weltman, Contributing Editor of J.K. Lasser’s Your Income Tax 2013: For Preparing your 2012 Tax Return (Wiley, November 5, 2012; $22.95; ISBN: 978-1-118-34670-9) says “although most of the drama in Washington was about changes to tax rates and rules in 2013 and beyond, there are changes right now that will take effect immediately.”

Here are some changes that have gone into effect:

•As part of the deal, the Payroll Tax Holiday comes to an end, which means that take home pay will be less because of the two percent hike in payroll taxes.
•If a taxpayer is self-employed they may need to increase their estimated tax payments because of the payroll tax change.

For these tips and to learn how the deal will impact the wealthy and more, please visit: http://www.youtube.com/watch?v=vSHnailAn5Q&feature=youtu.be

Taxpayers can gain direct access to supplement materials through http://www.jklasser.com, including links to the latest tax forms from the IRS, up-to-the-minute tax law changes, small business help, and much more. For additional information please follow us on Twitter: @JKLasser and on Facebook: https://www.facebook.com/JKLasserTax

Barbara Weltman, J.K. Lasser’s spokesperson, is an experienced media professional, ready to lend her expertise to print, online, and broadcast segments and is available for interviews and year-end tax questions. Barbara was recently named among the List of 100 Small Business Influencers for 2012, among many other major honors. She also hosts the radio show “Build Your Business” on http://www.wsradio.com. She is a key member of the J.K. Lasser Institute team of editors & writers, and has contributed to dozens of best-selling business books.

J.K. LASSER’S YOUR INCOME TAX 2013: For Preparing Your 2012 Tax Return;
Published by John Wiley & Sons, Inc.; Publication date: Nov 5, 2012; $22.95;
Paperback; 784 pages; ISBN: 978-1-118-34670-9*also available in e-book*


Your Complete Guide to Everything Deductible
Published by John Wiley & Sons, Inc.
Publication date: November 12, 2012
$19.95; Paperback; 452 pages; ISBN: 978-1-118-34664-8;
*also available in e-book format*

A straightforward guide to taking tax breaks and deductions on your 2012 tax return. This guide is completely revised to reflect important changes in recent tax laws from legislation, court decisions, and IRS rulings. This book also provides valuable tips to follow throughout the year to improve your tax picture in 2013.

Your Complete Guide to a Better Bottom Line
Published by John Wiley & Sons, Inc.
Publication date: November 5, 2012
$19.95; Paperback; 610 pages; ISBN: 978-1-118-34669-3
*also available in e-book format*

This guide includes tax facts and strategies that every small business owner needs to know for their 2012 tax return and year-round planning. This reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year.

J.K. Lasser Institute has been the premier publisher of consumer tax guides since 1939, when Jacob Kay Lasser first published Your Income Tax. Since then, the guide has been published continuously for over seventy years and read by over 39,000,000 people. The J.K. Lasser Institute also publishes several personal finance books, including Small Business Taxes, Home Owner's Tax Breaks, 1001 Deductions and Tax Breaks, Year-Round Tax Planning, and more. J.K. Lasser Institute spokespeople are regularly sought after as media tax experts. They regularly appear on such broadcast programs as CNBC, CNN, and Bloomberg TV. They are also often featured in numerous periodicals, including The Wall Street Journal, USA Today, Self Magazine, The New York Times, Newsweek and Reader's Digest.

Wiley PR Reference 978KMPSS01279

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