Adi Rappoport, a shareholder in Gunster’s West Palm Beach office who is certified in tax law by the Florida Bar, spoke to the Sun Sentinel about recent reports of South Florida companies opting to issue shareholder dividends before year end to take advantage of existing tax rates.
Rappoport told the newspaper that he’s already advising clients to take action now to protect their assets, in case the Bush era tax cuts are allowed to expire on December 31.
Beginning January 1, dividends will be taxed at 39.6 percent for the highest earners.
Many of those high earners already face higher taxes as a result of health care reform provisions, Rappoport said.
Read entire article: Some awarding dividends early (Sun Sentinel, 12/1/12)