Tax Law Highlights - 2012

1 2012 - List of Tax Return Forms Causing late filing in late February or March 2013 2 2012 Tax Rate Brackets 3 2012 Tax Return Filing Season starts January 30th, 2013 4 Adoption Credit - 2012 5 Alternative Minimum Tax - 2012 6 American Opportunity Credit 7 Annual Gift Exclusion - 8 Bonus Depreciation 9 Bonus Depreciation 10 Child Tax Credit 11 Earned Income Tax Credit 12 Estate and Gift Unified Credit - 2013 13 Estate Tax - New 14 Estate Tax - New Law 15 First-Time Homebuyer's Credit 16 Foreign earned income deduction 17 Hurricane Sandy - Federal Disaster Area Designation - 10% killer - Will Congress act 18 IRA - MAGI Phase-out amounts - 2012 19 IRA - Roth Conversions 20 Leasehold Improvement Property - 2012 21 Lifetime Learning Credit - 2013 22 Long Term Care Premium Deduction - 2013 23 Lower Capital Gains - 2012 24 Mileage Rate (per mile) deduction - 2012 25 Personal and Dependency Exemptions - 2012 26 Retirement Plans Maximum Limitations - 2012 27 Roth IRA Phaseout Limits 28 Section 179 expensing - 2012 29 Section 179 Income Limitation 30 Social Security - Allowed earnings - Under full retirement age 31 Social Security Wage Base - 2012 32 Student Loan interest - 2013 33 Teacher's deduction 34 Transportation assistance - 2012 35 Vehicle depreciation limits - 2012 36 Work Opportunity Credit - 2012