Be prepared: Tax hikes ahead?

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(FOX 25 / MyFoxBoston.com) - A number of tax breaks are expiring and some new taxes will go into effect soon.

The only thing certain about the tax code these days is the uncertainty of it all.

If Congress doesn't take action before the end of the year, federal tax increases will go into effect next year, raising levies on your income, capital gains, dividends, wages and more.

So what's in play here affects all of us and our wallets. Jennifer Wolfsberg, Managing Principal from Centerpoint Advisors, breaks it down for us.