Beyond the Fiscal Cliff for Independent Oil Marketers Association of New England – The Good and the Bad

Find out how the new tax regulations will affect businesses in the petroleum industry
Sponsored by the Independent Oil Marketers Association of New England (IOMA)
Presented by Gray, Gray & Gray, LLP

Before you breathe a big sigh of relief that Congress avoided plunging the nation over the “fiscal cliff,” you should know more about what the new tax legislation will mean for gasoline, oilheat and service station businesses, as well as the effect it will have on your individual taxes.

Gray, Gray & Gray closely monitored the negotiations and the language of the new bill. We explain to you who will benefit, and who will end up paying more in 2013. Discover what lies “beyond the fiscal cliff” in this informative one-hour session sponsored by IOMA. We cover important issues that affect businesses and individuals, including:

  • Return of higher payroll tax
  • Extension of business tax credits
  • New tax rates for individuals earning $400,000 and couples earning $450,000
  • Higher estate tax rate and new exemption level
  • Tax increase from the Patient Protection and Affordable Care Act
  • Permanent patch for AMT (alternative minimum tax)
  • Capital gains tax rate hike
  • Extension of personal tax credits
  • Effect of the “marriage penalty” on personal taxes


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