Here’s our 2012 year-end tax update. Major topics include the sunset of the Bush era tax cuts and a major overall of the estate tax system effective 1/1/2013. We are anticipating a one-year extension of the Bush era tax cuts as well as either an extension of the estate tax system “as-is” or a compromise between where it is now and what it is scheduled to revert to in 2013. An extension is likely given 2012 being a presidential election year and neither candidate has really being ready to fully promote the comprehensive tax reform they endorse. We will post any significant updates or changes as they come!