Chicago Associate Robert A. McKenzie appeared on WGN-TV on January 9 and provided tips on recent tax changes. Mr. McKenzie spoke for approximately 3 minutes in the interview. Regarding individuals, he discussed the reduced Alternative Minimum Tax exemptions for 2012, the expiration of the Private Mortgage Insurance deduction, the reduction in Pre-tax mass transit exclusions from $250 to $125, and the new requirements for foreign asset reporting. Regarding businesses, Robert discussed the expiration of the Work Opportunity Tax Credit, except for veterans.
To view the clip, click here.