Rescuing your dwindling paycheck from the tax-man has become an important part of formulating an investment strategy, even if you are a rich politician.

^[2]Regardless what you were promised in 2013, your taxes will go up now that the “Bush” tax cuts have been allowed to expire. A recent article in Investor’s Business Daily ^[3] outlined how those making far less than that magical $250,000 per year will see their taxes increase. Families making $50,000 per year ^[4] will pay as much as an extra $835 per year.

Since tax rates will be rising regardless of your income, you can take steps to prepare. Here are a few strategies to consider in anticipation of the coming tax hike:

Before you panic, use a buy-and-hold investment approach

With an investment that increases in value by 6% each year, it will increase a little over 26% in four years, excluding any dividends or interest payments. So, although capital gain and other tax rates will increase next year, you may also want to consider holding investments with growth rates exceeding the increase in the tax rate. Buy-and-hold (excluding annual rebalancing of your portfolio) is one key factor in How A Second Grader Beats Wall Street.