There may be more opportunities to use tax-efficient strategies if investors focus on tax planning throughout the year.
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