How the Upcoming Medicare Tax Could Affect HNW Clients
Nov 7, 2011
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Sandra L. Atkins, CPA/PFS, and Helen Modly, CFP/CHFC
Are clients complaining about a new 3.8% "sales tax" enacted on the sale of their home? If so, they are victims of misinformation. There is no sales tax in the health care bill, but there are new Medicare taxes on both unearned income and wages over certain limits. Familiarize yourself with the rules to understand and respond to what lies ahead for HNW clients.