Medicare 3.8% Surtax As part of the Health Care and Education Reconciliation Act of 2010 (Obamacare) a 3.8% surtax on certain net investment income was instituted to support the cost of Medicare. The Net Investment Income Tax goes into effect on Jan. 1, 2013. The NIIT will affect income tax returns of individuals, estates
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Time is Running Out! Congress has yet to take action following the Presidential election in early November. There were many hopes that congress would promptly take action regarding the estate tax. Absent some sort of Congressional action, as of Jan 1, 2013 the rates and exemptions will all change, resulting in a significantly
What President Obama’s Re-Election Means for Estate Taxes There is some justifiable concern regarding the uncertainty of the estate tax, particularly with regards to the recent presidential election. The 2012 Election was full of promises and plans from both sides advocating change. With so much uncertainty in the air it’s hard to know