Elimination of the 10 percent tax rate.

Currently the first $8,500 ($17,000 if married) of taxable income is taxed at a 10 percent rate. In 2013, the first dollar of taxable income will be taxed at a 15 percent rate.

All other tax brackets will increase.

Currently the highest tax rate is 35 percent. That tax bracket will increase to 39.6 percent in 2013.

Long-term capital gain increases.

In 2012, long-term capital gains are taxed at 0 percent if you are in the 15 percent tax bracket or below, and taxed at 15 percent for those in the higher tax brackets. In 2013, long-term capital gains will be taxed at 10 percent or 20 percent depending on your tax bracket.

Elimination of qualified dividends.

The current tax rate on qualified dividends is 0 percent (if you are in the 15 percent tax bracket or lower) and taxed at 15 percent if you are in the higher tax brackets. In 2013, dividends will be taxed as ordinary income. This means they will be taxed as high as 39.6 percent. There will be a new 3.8 percent surtax on investment income for those with taxable incomes over $200,000 ($250,000 if married). In 2013, if you are in the higher tax brackets, your dividend income could be taxed at 43.4 percent (39.6 percent + 3.8 percent) versus the 15 percent tax rate in 2012.

Payroll taxes will increase.

Today, we still have the 2 percent rollback on the employee portion of FICA taxes. That rollback could end in 2013.

Child tax credit reduction.

For those with dependent children under age seventeen the current child tax credit is $1,000. The credit could be reduced to $500 next year.

Elimination of college education credits.

The current American Opportunity Credit offers a very generous credit of up to $2,500 to help defray the cost of higher education expenses. That credit is eliminated in 2013.

These are just a few of the potential increases that 2013 may bring. Other increases include the return of limitations on itemized deductions and personal exemptions, return of the marriage penalty, reduced student loan interest deductions, and more. While “paying more taxes” may not be at the top of your resolution list, staying informed and being prepared are always good resolutions.