At press time, Congress had yet to decide on keeping income and estate tax rates at recent levels. 2013 may bring some notable financial developments, and it isn't too soon to prepare for change and consider the impact that these potential changes could have on your financial life.

* Next year, medical expense deductions may shrink. If you are thinking about delaying a procedure or surgery until 2013, remember that next year you may only get to deduct unreimbursed medical expenses that exceed 7.5% - rather than 10% - of your taxable income. (This is assuming you like to itemize deductions, of course.) If you are 65 or older, you get a bit of a break: you will still be able to deduct unreimbursed medical expenses up to10% of your taxable income on your federal return through 2016.

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