Know Your Options Before You Pay Those Taxes

Law360, New York (June 13, 2013, 1:02 PM EDT) -- As the dust settles on individuals’ 2012 tax filings, the realities of 2013 taxes are becoming more prominent. With Affordable Care Act tax rules and the American Taxpayer Relief Act of 2012 (the fiscal cliff legislation) now taking effect, some taxpayers are facing much higher tax levies.

Individuals heavily impacted include the owners or partners in closely held firms such as law firms, accounting firms, medical and dental practices — and many other businesses, regardless of industry. These tax increases will be substantial for those at...
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