I’ve never been what one would call a skilled prognosticator. In the past year alone, I told anyone who would listen that Bin Laden would never be caught, Cam Newton would be a bust and the Kardashian-Humphries union would be a long and happy one, complete with a litter of vapid, talentless children. Wrong on all counts.
Unfortunately, as a CPA — and in light of the uncertain political and economic climate we find ourselves in — clients often look to me to foretell the changes that may impact their tax liabilities in the future, a role I’ve never been entirely comfortable with in light of my putrid track record.
While I may be loathe to predict this country’s tax future, luckily others aren’t so cowardly. Laura Saunders over at the Wall Street Journal recently asked some two dozen tax experts to predict what the tax rates will look like come 2013.
Of particular note:
- The top individual tax rate will remain at 35%, though some experts see it climbing to 40%.
- The long term capital gains rate will stay at 15%, with a few experts predicting a 20% rate.
Now, those predictions aren’t overly novel, but then again, what did you expect? CPAs are not risk-takers.
Well, except for this group. They’re cleary nuts. Dance like that on the wrong subway car, and you’re just begging to get shivved.