2015 Q4 Client Tax Letter

Posted on October 26, 2015

2015 Q4 Client Tax Letter

Your Executive Compensation Could Be Subject To The 0.9% Additional Medicare Tax Or The 3.8% NIIT

Posted on October 13, 2015

The additional Medicare tax and net investment income tax (NIIT) apply when certain income exceeds the applicable threshold: $250,000 for married filing jointly, $125,000 for married filing separately, and $200,000 for other taxpayers. The following types of executive compensation could … Continue reading →

Are You Meeting The ACA’s Additional Medicare Tax Withholding Requirements?

Posted on January 23, 2014

Under the Affordable Care Act (ACA), beginning in 2013, taxpayers with FICA wages over $200,000 per year ($250,000 for joint filers and $125,000 for married filing separately) had to pay an additional 0.9% Medicare tax on the excess earnings. Unlike … Continue reading →

Why You Should Max Out Your 2013 401(k) Contribution

Posted on October 16, 2013

Contributing the maximum you’re allowed to an employer-sponsored defined contribution plan, such as a 401(k), 403(b) or 457 plan, is likely a smart move: Contributions are typically pretax, reducing your modified adjusted gross income (MAGI), which can also help you … Continue reading →

Start Planning Now If You’d Like To Deduct Medical Expenses

Posted on September 17, 2013

Medical expenses that aren’t reimbursable by insurance or paid through a tax-advantaged account (such as a Health Savings Account or Flexible Spending Account) may be deductible — but only to the extent that they exceed 10% of your adjusted gross … Continue reading →