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Tax expert Benjamin Podraza, a Certified Public Accountant and principal of Podraza CPA, PLLC, provides insight into the details of the American Taxpayer Relief Act of 2012. Podraza describes the major provisions of the legislation and explains what has not been addressed.
Phoenix, AZ (PRWEB) January 02, 2013
Tax expert Benjamin Podraza, a Certified Public Accountant and principal of Podraza CPA, PLLC, provides insight into the details of the American Taxpayer Relief Act of 2012. The act allows the United States to avoid one of the steepest tax increases in the country’s history. Major benefits individuals realize from the legislation include:
Although in many respects this is a victory for the American people, it should not cloud the fact that taxes are increasing for just about every American in 2013. Legislation failed to address:
Permanent relief from tax rate increases and the AMT provides some much needed clarity, but this legislation has been criticized for failing to address spending side issues with the budget. Because it only extends sequester for two months, Congress will face another version of the fiscal cliff in the coming weeks. It is probable that revenue side discussions will again become part of the debate this year.
"The smartest move for individual taxpayers is to exhibit behaviors that have been consistently encouraged through legislation," says Benjamin Podraza. "Although the form of incentives have changed, the behaviors the US government have subsidized have withstood the test of time. The government has been consistent with incentives related to education, employment, medical care, charitable contributions and saving for retirement. Individuals engaging in these activities consistently have lower tax bills than individuals who abstain from these activities."
To speak with Ben Podraza in more depth about the American Taxpayer Relief Act of 2012 or to schedule an interview, please contact Mary Garrett at 602-432-2010.
ABOUT PODRAZA CPA, PLLC:
Podraza CPA is a Scottsdale, AZ based CPA firm. It offers a wide range of services designed to help its clients reach their long-term financial goals. In addition to preparing personal and business tax returns, they also offer numerous services geared to help individuals and business owners. Individual services include income tax return preparation, tax representation, and estate planning. Business services include tax planning, preparation and representation, development of accounting policies and internal control systems, financial modeling and forecasting, business valuations, loan packaging, as well as, general bookkeeping and payroll services. For more information, contact Podraza CPA at 480-998-3945 or visit their website at http://www.podrazacpa.com.
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