2013 Tax Law Update

 Unless Congress takes action prior to January 1, 2013, a number of tax law changes—from expiring tax cuts to anticipated changes to estate and gift taxes to possible tax rate increases for those with higher incomes— take effect in 2013, affecting different taxpayers in different ways.  

 
Your exact tax savings for charitable gifts will depend upon your income tax rate, the type of property given, whether you itemize and a variety of limitations and other factors. Please check with your advisors to find out how changes in 2013 could affect the philanthropic aspects of your tax planning for this and future years.
 

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