On January 2, 2013, President Barack Obama signed into law the American Taxpayer Relief Act of 2012 (the Act). Continuing our conversation with you around how tax legislation impacts private companies and high net worth individuals, PwC's Private Company Services will host this webcast. Participants on this webcast, both individuals and corporations, will better understand the many provisions impacting private companies and their owners.
Wednesday, January 23, 2013
The Act includes permanent extensions of certain 2001 and 2003 tax provisions for individuals with incomes below $400,000, and joint filers with incomes below $450,000. For individuals whose taxable income exceeds these thresholds, their top tax bracket will increase to 39.6% and their dividends and long-term capital gains will be taxed at 20%. The legislation also permanently extends the $5 million estate and gift tax exemption (indexed for inflation). In addition, the Act extends a 50% bonus depreciation provision for qualified property through the end of 2013.
The Act also provides permanent indexing of individual alternative minimum tax (AMT) exemption levels for 2012 and subsequent years. The Act includes retroactive extensions through 2013 of certain expired individual, business, and energy tax provisions. The renewed business tax provisions include the research credit (with modifications), controlled foreign corporation (CFC) look-through, 15-year straight-line cost recovery for qualified leasehold improvements, and certain other provisions that expired at the end of 2011.
Participants on this webcast, both individuals and corporations, will better understand the many provisions impacting private companies and their owners.
Who should attend?
Taxpayers earning at least $250K, high-net-worth individuals, family business owners, private companies and their executives should attend this webcast.
Participation in the live webcast qualifies for 1 CPE credit.
Please note that CPE credit can only be given to individuals who remain logged into the LIVE webcast and respond to the polling questions provided during the webcast. If you are viewing this webcast in a group, everyone in the group can receive CPE Credit. Also, those who dial in via telephone are NOT eligible for CPE credit. Please note that this is a NASBA (not PwC) requirement.
If you have any questions concerning continuing professional education (CPE), you can find answers here to frequently asked questions concerning CPE webcast participation.