Now that the elections are over, nationwide attention has turned to the so-called “fiscal cliff.”  The fiscal cliff refers to the effective date of automatic cuts in spending combined with increases in taxes mandated by law.   It has been called a year-end “perfect storm” and “taxmageddon.”  One commentator at CNN referred to the fiscal cliff as “the legislative equivalent of a slow-motion train wreck.” Putting politics aside, unless new legislation is enacted between now and the end of the year, the fiscal cliff will have an impact on you and your anesthesia practice.  In this week’s Alert, we summarize some of the changes slated to take effect at the start of 2013.  This is only a summary and not tax advice.  You should consult your tax advisor regarding your response to this possible fiscal cliff.Income TaxesThe table below is based on gross income after exemptions:SingleMarried Filing JointlyCurrent Tax Bracket2013 Tax Bracket$0–$8,700$0–$17,40010%15%$8,700–$35,350$17,400–$70,70015%18%$35,350–$85,650$70,700–$142,70025%28%$85,650–$178,650$142,700–$217,45028%31%$178,650–$388,350$217,450–$388,35033%36%$388,350 +$388,350...