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1st Quarter - 2013
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Looking
Backward and Forward on Entitlement Programs Last year's presidential election, along with
the more recent fiscal cliff and debt ceiling negotiations, have put the
spotlight on our nation's tax policy, deficit, and entitlement programs. For
some, entitlement programs are necessary--a social compact for America. For
others, entitlements are jeopardizing our country's fiscal health and creating
an "entitlement lifestyle." No matter where you stand in the debate,
do you know the basic facts on entitlements?
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Understanding
the New Medicare Tax on Unearned Income
The health-care reform legislation enacted in
2010 included a new 3.8% Medicare tax on the unearned income of certain
high-income individuals. This new tax, known as the unearned income Medicare
contribution tax, or the net investment income tax (NIIT), went into effect on
January 1, 2013. Here's what you need to know. |
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