Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs.  Please contact us if you have questions about any of the issues discussed.

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Important Information

 

 

 

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.