The Tax Crunch: Navigating the New Financial Landscape in 2013

The rule was made “permanent,” though that should perhaps be taken with a grain of salt.

“They’ve made it permanent … until they change it,” Mr. Schlisselfeld quipped.

He cautioned further, “Don’t let taxes be your first and foremost decision-maker,” noting that even gift-giving can have hidden taxes.

Yet one perk, seemingly without a catch, is bonus depreciation, which will continue this year, after fears that it would expire December 31. It says that if a landlord makes an improvement in tenant premises, he may immediately write off 50 percent of the costs as tax-free.

The “65-day rule,” is a detail that can save real estate professionals money. It says that a distribution from a trust made during the first 65 days of 2013 can be filed for 2012, meaning that it is taxed based on 2012’s rates, experts said.

But despite these so-called perks—and the warnings from accountants to not do so—tax changes undoubtedly will continue to impact investment behavior.

“Not only are tax rates high, but they’re always going higher,” Mr. Golbert said. “People will clearly act differently.”