
The start of 2013 found Congress in frantic negotiations to avoid the so-called fiscal cliff, which it did (barely) with passage of the American Taxpayer Relief Act (ATRA) on Jan. 1. As a result, most Americans, including physicians, will see their taxes increase. For those who earn more than $400,000 and/or have significant investment income, the added tax bite you will feel beginning this year could be especially significant.