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The Fiscal Cliff Deal: How Will It Affect Me?

The government kicked off 2013 in a flurry of political drama as they worked to avert the “fiscal cliff” which loomed apocalyptically over American taxpayers. The new law, passed on January 1st, will have lasting impact on the tax code and ensures future budget battles in Washington as it deals with revenue but very few spending cuts. Pundits on both sides are claiming the deal is both a bipartisan path toward a sounder economy and a disaster and are already talking about huge budget battles ahead. But what does the bill really include? How will it really affect taxpayers and business owners?

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