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The American Taxpayer Relief Act of 2012 President Obama signed into law in January 2013, included many tax law changes that will affect your itemized deductions for 2013. 

The American Taxpayer Relief Act extended several popular tax breaks, some through 2013 and others permanently.  Included are the optional deduction for state and local sales tax, the adoption [...]

The limitation on itemized deductions is back.  The American Taxpayer Relief Act sets the income level at $250,000 for single taxpayers and at $300,000 for couples.  Those with income above these [...]

The American Taxpayer Relief Act of 2013 increased the top estate tax rate from 35% in 2012 to 40%.   The estate exemption was set at $5,000,000 for individuals and $10,000,000 for  married [...]

Enacted by Congress in 1969, the AMT Tax (alternative minimum tax) attempted to ensure that individuals and corporations that benefit from certain exclusions, deductions, or credits pay at least [...]

Small Business expensing was enhanced early this calendar year when The American Taxpayer Relief Act of 2012 increased the amount available as a first-year deduction for the purchase of new or [...]

Now that Congress has passed the American Taxpayer Relief Act of 2012 (ATRA) and avoided the so-called “fiscal cliff,” tax law changes for 2013 will hit higher-income taxpayers hard.