One very simple piece of advice

November 7, 2012,
Santiago, Chile.

There are a lot of things one could say about the election results… but very few things that are worth saying.

One point that I absolutely must make is this– after December 31st,

– Income tax rates are going up
– Capital gains rates are going up
– Rates on dividends are going up
– Estate and gift tax exclusions are going down. Dramatically.

If you are a US taxpayer, you now have 53 days to get your tax affairs in order.

It is not too late to substantially reduce your lifetime tax liability, and I strongly recommend that you get in touch with your tax planner as soon as possible, in particular to make full use of your available exclusions.