New 3.8% Medicare Contribution Tax on Unearned Income
Beginning in 2013, the 2010 Health Care Act, as amended by the 2010 Health Care Reconciliation Act, imposes a Medicare contribution tax on unearned income (Medicare contribution tax) on individuals, estates, and trusts.
Additional 0.9% Medicare Surtax in 2013
The Patient Protection and Affordable Care Act provides that, beginning in 2013, a new 0.9% Medicare surtax will be imposed on wages and self-employment (SE) income in excess of specific MAGI threshold amounts.
Cash Management Strategies for a Secure Retirement
For those of us looking forward to achieving a financially secure retirement, an overriding question is “how much will I need to live comfortably during retirement?” Unfortunately, there is no one-size-fits-all answer; everyone has different goals and objectives. However, we have listed below some ideas to help build that retirement nest egg.
Asset Protection Characteristics of LLCs
Limited liability companies (LLCs) offer the personal financial protection equivalent to that provided by corporations. This means that members of an LLC generally are not liable for its debts or liabilities.