Many business owners have some control over when they realize income. Push deductions into 2013 and move income into 2012.
This isn’t the first time Americans have used this strategy. According to a 2004 US Treasury report, "High income taxpayers accelerated the receipt of wages and year-end bonuses from 1993 to 1992 – over $15 billion – in order to avoid the effects of the anticipated increase in the top rate from 31 percent to 39.6 percent. At the end of 1993, taxpayers shifted wages and bonuses yet again to avoid the increase in Medicare taxes that went into effect beginning 1994."
