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The state sales tax deduction was reinstated for 2012 and extended for 2013

Tax Credits extended include the Returning Heroes and Wounded Warriors Work Opportunity Tax Credit, the New Markets Tax Credit, The Low-Income Housing Tax Credit, the Research and Development Tax Credit and tax credits for Clean Energy

The first $5.12 million of one' estate valuation remains exempt from federal estate tax and will be indexed for inflation but the top tax rate on estates was changed from 35% to 40% for 2013.

Finally Congress has permanently addressed the alternative minimum tax issue and indexed the annual exemption limits for inflation, retroactive for 2012.

The above the line deduction of up to $250 for teacher's classroom expenses was reinstated

The rules that phased out the deduction for itemized deductions that existed prior to 2011 are reinstated for tax years beginning 2013. During 2011 and 2012 there was no phase out for higher earners.

The healthcare reform law passed in 2010 places new limits on the amount employees can put aside in a flexible spending account . Beginning in 2013, workers will be able to put aside only $2,500 in their flexible spending accounts.
After 2013, that $2,500 FSA limit will be adjusted each year for inflation, but it is still a significant drop from the maximum many employers now allow.
The changes to flexible spending accounts starting in 2013 apply whether you use the plan to cover just you or you and your whole family.
Since the combined out-of-pocket healthcare costs for a family could exceed the $2,500 limit, employees who need to save might want to look at opening a health savings account (HSA), as well as a flexible spending account.
With an HSA, you can put aside money and get a deduction when you do your taxes

Retirees under full retirement age (ages 62 -66 ) can earn up to $14,640 without losing benefits. Your Social Security benefits would be reduced by $1 for every $2 you earned over the limit.
In the year you reach full retirement age, $1 for every $3 you earned above the $38,880 limit.
There is no limit when you reach the full retirement age.

Tax Relief for Taxpayers Who Lose Their Homes Due to Foreclosure will remain for one more year. Debt forgiven in connection with the foreclosure of a principal residence will be considered nontaxable

New cars put in service in 2012 and used over 50% for business, bonus depreciation allows a $11,160 first year depreciation limit.
The limit is $3,160 if Bonus depreciation is not used.
Light trucks or Vans put in service in 2012 and used over 50% for business, bonus depreciation allows a $11,360 first year depreciation limit.
The limit is $3,360 if Bonus depreciation is not used.