Income tax changes on the horizon for 2012, 2013.

The article focuses on some possible changes in the U.S. income tax laws starting in 2013. Political observers forecast that higher-income taxpayers will be asked to pay more, either through higher tax rates or more limited deductions, under the traditional strategy of income-shifting. It further suggests how people can make savings for future by reducing modified adjusted gross income (MAGI) under the threshold amount, reducing investment income, and using tax-aware mutual funds.