Some folks have noticed what appears to be an "increase" in social security taxes being withheld from individual payroll checks, but this is not an increase. It's just a return to the old rates from a couple of years ago.Two years ago, to help stimulate the economy, Congress and the President worked out a plan to reduce the Social Security rates to individuals by 2%. That temporary rate reduction expired at the end of 2012 and was not continued during the recent "fiscal cliff" negotiations. If you are self employed you will not notice the difference unless you increase your estimated tax payments, otherwise you will see it on your filing in April of 2014. See general information at http://www.karlinlaw.com/Business-Law-Litigation/
New Estate Tax Law is Now Permanent. Note the $5.12 million estate exemption is per person, so for married persons there are methods to increase this exemption to be effectively over $10 million dollars. it is very important to look into setting up a trust or other planning devices. On larger estates such trusts can save $40,000 in estate taxes for every $100,000 over $5.12 million (up to $10.24 million) - A potential savings of over 2 million dollars. See in general http://www.karlinlaw.com/Trusts-Estates/
What follows is a some free legal information regarding the above titled matter for educational and discussion purposes only. This is not to be used in all matters or cases, and each matter or case is different. What follows is for discussion purposes only for review and consideration by and for liciensed Calfornia Defense lawyers, and should not be used in any particular matter or case. It is an example from what has been used in another matter or case, and will like not apply to someone else's matter or case.