UPCOMING EVENTS

SEMINARS FOR SEPTEMBER 2017

MONROEVILLE
Tuesday, September 12, 2017
2:00PM
The Estate Planning Centers
3824 Northern Pike, Suite 801B
One Monroeville Center
Monroeville, PA 15146
Just west of Red Lobster on Rt. 22

MURRYSVLLE / DELMONT
Tuesday, September 12, 2017
7:00 PM
Holiday Inn Express
Delmont/Murrysville
6552 Route 22
Delmont, PA 15626
Behind Lamplighter Restaurant on Rt. 22

MURRYSVLLE / DELMONT
Thursday, September 14, 2017
2:00 PM CANCELLED DUE TO CONFLICT

Holiday Inn Express
Delmont/Murrysville
6552 Route 22
Delmont, PA 15626
Behind Lamplighter Restaurant on Rt. 22

MONROEVILLE
Thursday, September 14, 2017
7:00 PM 
 CANCELLED DUE TO CONFLICT

The Estate Planning Centers
3824 Northern Pike, Suite 801B
One Monroeville Center
Monroeville, PA 15146
Just west of Red Lobster on Rt. 22

MONROEVILLE
Saturday, September 16, 2017
9:30 AM
The Estate Planning Centers
3824 Northern Pike, Suite 801B
One Monroeville Center
Monroeville, PA 15146
Just west of Red Lobster on Rt. 22

 
 

 
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Proudly serving clients throughout Allegheny, Westmoreland, Butler, Fayette, and Washington Counties; including Pittsburgh, Monroeville, Greensburg, Latrobe, Cranberry, Wexford, Sewickley and YOUR community.

Summary of 2013 Tax Changes
Including the American Taxpaer Relief Act of 2012

The new year brought a number of changes to the tax code in the U.S.  The most relevant features are set forth below:
 
ESTATE TAX
  • $5,000,000 estate tax and gift tax lifetime exclusion amount made permanent, indexed annually for inflation (currently $5,120,000);
  • Portability of estate and gift tax lifetime exclusion to a surviving spouse made permanent, permitting a surviving spouse to retain the benefit of any lifetime exclusion unused by deceased spouse;
  • 40% estate tax on estate amount exceeding remaining lifetime exclusion;
  • The annual gift tax exclusion amount is $14,000 per donor/ per donee for 2013;
 
EARNED INCOME TAXES
  • Payroll (FICA) contribution by employees raised back to 6.2% of the first $113,700 in earnings;
  • 0.9% Medicare tax on earned income over $300,000(joint)/ $250,000(individual);
 
INCOME TAX RATES
  • Maximum income tax rate raised to 39.5% on AGI over $450,000 (joint)/ $400,000 (individual);
 
CAPITAL GAINS AND DIVIDENDS
  • Capital Gain and Dividends tax rate remains 15%, but raises to 20% for taxpayers with AGI exceeding 450,000(joint)/$400,000(individual);
 
PERSONAL EXEMPTIONS AND ITEMIZED DEDUCTIONS
  • Personal Exemptions phase-out and Pease limitation on itemized deductions for taxpayers with AGI over $300,000(joint)/ $250,000(individual);
  • Medical expense deductions threshold raised to 10% AGI from 7.5%. People 65 or older can retain the 7.5% threshold through 2016; 
 
MEDICARE TAX ON INVESTMENT INCOME
  • 3.8% tax for taxpayers with AGI over $250,000(joint)/$200,000(individual), assessed on lesser of net investment income or income over described income threshold;
 
ALTERNATIVE MINIMUM TAX
  • Permanent modification to Alternative Minimum Tax exemption. In 2012, the exemption is $50,600 (single) and $78,750 (married), with annual inflation adjustments in future years.