Given the possibility of higher taxes in the future, investors may consider reviewing tax planning ideas and consider opportunities in the muni market.
Investors are monitoring the shifting tax landscape as income tax rates and inheritance tax laws can vary widely by state.
With tax reform proposals from the White House and the new Congress likely to spark debate, any potential tax code changes will face close scrutiny. Today, tax-efficient planning strategies take on heightened importance. When planning in 2015, consider these five strategies that may help investors mitigate their tax bills. 1. Invest in municipal bonds to
With the introduction of higher tax rates for some taxpayers in 2013 and ongoing tax-reform debate in Washington, it is essential for any comprehensive financial plan to include tax smart planning strategies. Specific income thresholds will trigger the new 3.8% Medicare surtax, income phase-out of itemized deductions, or the highest marginal tax rate. These five
From a series of meetings and presentations with investors and advisors around the country in the first three months of this year, tax uncertainty has emerged as the leading financial planning concern. While the passage of federal tax legislation in January brought some clarity, many clients still find aspects of the current law confusing and
Health-care reform legislation introduced a payroll tax increase and a new Medicare surtax this year. While the rise in payroll tax was automatic for taxpayers with a specific income level, the 3.8% investment surtax does not apply to all forms of income. There are several types of income that are not affected by the tax
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
With marginal tax rates rising for higher income levels, the reduction of some tax preference items, and a new Medicare investment income surtax, income tax planning should be a priority. Here are five strategies that clients can use to mitigate tax obligations today. 1. Invest in municipal bonds for tax-free income Municipal bonds become more