Divorce can be overwhelming on an emotional level as well as when dealing with planning issues such as taxes, property division, and custodial arrangements.
Given the possibility of higher taxes in the future, investors may consider reviewing tax planning ideas and consider opportunities in the muni market.
The current tax reform debate in Washington makes tax planning critical as year end approaches.
New taxes took effect this year as a result of the 2010 health-care reform legislation that may have an impact on tax-planning strategies. As of January, the Medicare payroll tax increased to 2.35% from 1.45%. In addition, a 3.8% surtax on “net investment income” was also introduced to help fund health-care reform. Both taxes affect