Now that the Supreme Court has ruled the health-care reform law (with one exception related to Medicaid expansion) as constitutional, questions on specific provisions will undoubtedly emerge. During the Court’s deliberation, much of the attention focused on the individual mandate to purchase insurance. While a majority of justices concluded that the individual mandate violated terms
The U.S. Supreme Court ruled Thursday to uphold the federal health-care reform law, voting in favor of a mandate that requires most individuals to buy health insurance or pay a penalty. In a 5–4 vote, the Court said that the mandate is constitutional when viewed as a tax. The law’s “requirement that certain individuals pay
Tax uncertainty has returned as a dominant theme in financial planning this year. With many federal tax programs slated to expire at the end of 2012, advisors are looking for insights on policy outcomes and what strategies they can use to mitigate the effects of potential higher tax rates. In this latest video, financial-planning experts
With major changes to estate and gift tax rules on the horizon in 2013, affluent investors should consider taking action now to plan a financial legacy. Download Putnam’s new investor education piece, Gifting opportunities in 2012, for details on: The federal gift tax rules Rules about lifetime gifts How gifting strategies may skip a generation
While the U.S. Supreme Court continues to review the constitutionality of the federal health insurance mandate passed in 2010, new taxes that were also created by the law will likely remain. Beginning in 2013, two taxes are set to take effect: a 3.8% Medicare surtax on net investment income, and an additional 0.9% Medicare payroll
Finding the ideal place to retire means weighing many pros and cons. The size of the tax bite can vary greatly by state. Use this interactive graphic to see how the states measure up. Click on the map below to launch the interactive graphic. All data is current as of 10/21/11 and is subject to
When reviewing retirement assets, you may want to discuss the net unrealized appreciation rule (NUA) if your client owns appreciated company stock in a qualified 401(k) plan. Clients may not realize they may benefit from the tax flexibility provided by the rule. Presenting this alternative can differentiate you from other advisors or investment firms who
Today more and more households are headed by a divorced or single individual. Because most rules involving retirement, insurance, income taxes, and estate taxes differ because of marital status, there are unique challenges that may arise for these individuals. There are some strategies that may be useful for divorced and single individuals as they navigate
Unmarried couples have unique financial planning considerations because the rules involving retirement, insurance, income taxes, and estate taxes differ from those that apply to married couples. Fortunately, planning strategies may be used to deal with varying limitations or exclusions. Retirement. Beneficiary designations are critical for unmarried couples because they cannot take advantage of rules governing
As the tax filing deadline approaches, many clients may think it is too late to reduce their tax bill and possibly avoid the alternative minimum tax. If you have shared tax-savings strategies with clients, now may be a good time to check in to see if they have followed up on them, before they complete