Another year has come to a close and we embark on a fresh journey in 2013. New laws, tax rate brackets, strategies, investments and chances for a bipartisan solution to problems that will arise.
Notes from Sandy:
Playa Hermosa Wildlife Turtle Refuge, Costa Rica
Notes from Sandy
Ah, election year. How I hate politics and all the mudslinging that comes with it. Some friends are so rabid on Facebook with their political posts; I can't even look any more. I recently attended a conference and heard Mary Matalin and James Carville speaking together (pictured above). They are so funny with their insults of each other and their opposing parties I have no idea how they can stay married. They each told great "behind the scenes" stories like the day that Dick Cheney shot his friend while hunting quail. All funny stories aside, they gave great insight to their projections of the coming election.
Capital Gains and Tax rates: Going up? Going Down? Staying flat?
Each party has a vision of what the capital gains rates will be, estate tax limits, if there will be a Medicare surtax on unearned income, income tax brackets, AMT tax, and other big issues. Congress and Senate leaders are working now to address the "fiscal cliff" facing our country in January but I don't have much faith they will get a comprehensive deficit reduction deal done. We will see. This means a very busy November and December as we review portfolios in light of changes we believe will take effect.