Newsletter Archive

Toughened One-Year Wait Period Between IRA Rollovers

You should know about an important change in the rules for IRA rollovers, which are transactions that let you withdraw cash from one IRA and redeposit it in another IRA without paying a current tax.

Health Care Reform for Businesses

The Patient Protection and Affordable Care Act (the Affordable Care Act) had some key provisions that apply to businesses. Perhaps the item of most interest to employers is that beginning in 2015, many businesses that do not offer affordable health insurance coverage that provides a certain minimum value to at least 95% of their full-time employees (and their dependents) may be subject to an excise tax (i.e., penalty).

Health Care Reform for Individuals

The 2010 health care reform legislation was landmark legislation that will affect all individuals in some way over the next few years.  Besides the obvious effect this massive legislation will have on healthcare, there are many significant provisions of the legislation that affect an individual's income taxes.  Some provisions of this law were effective immediately, while others are not effective for several years.  In fact, the full range of provisions will not take effect until 2018.  Attached, listed in the order in which they are effective, you will find the major provisions that will affect individuals by 2014.

 

Congress-Planned Bill Averts Fiscal Cliff Tax Consequences

In the early morning hours of Jan. 1, 2013, the Senate, by a vote of 89-8, passed H.R.8, the “American Taxpayer Relief Act” (the Act). Late on that same day—hours after the government had technically gone over the “fiscal cliff”—the House of Representatives, by a vote of 257 to 167, also passed the bill. The Act, which the President is expect to quickly sign into law, would prevent many of the tax hikes that were scheduled to go into effect this year and retain many favorable tax breaks that were scheduled to expire. However, it would also increase income taxes for some high-income individuals and slightly increase transfer tax rates. This article provides an overview of the Act's key provisions

Affordable Care Act's New Health Insurance Marketplace

In March 2010, President Obama signed comprehensive health reform, the Patient Protection and Affordable Care Act (ACA), into law. While some provisions of the law have already taken effect, many more provisions will be implemented in the coming years.

Qualified Plan Distributions Exempt from the NIIT

Beginning in 2013, a new 3.8% Net Investment Income Tax (NIIT) applies to the net investment income (NII) of high-income taxpayers.

 

Additional 0.9% Medicare Tax

You should know about an important change in the rules for IRA rollovers, which are transactions that let you withdraw cash from one IRA and redeposit it in another IRA without paying a current tax.

College Financial Aid Basics

You should know about an important change in the rules for IRA rollovers, which are transactions that let you withdraw cash from one IRA and redeposit it in another IRA without paying a current tax.

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