How New and Expected Tax Increases Will Affect Your Clients

Hinch, Phillips
June 2010
Journal of Financial Planning;Jun2010, Vol. 23 Issue 6, p36
Academic Journal
The article discusses new tax increases in the U.S. The author mentions the tax increases attached in the Patient Protection and Affordable Care Act (PPACA). He also explains the two parts of the Federal Insurance Contributions Act (FICA) tax. He states that payroll taxes will be increased starting in 2013 by 0.9 percent HI surtax on wages over 200,000 dollars. He further points out that capital gains and dividends for high-income taxpayers will be covered by a 20 percent rate. He further emphasizes on the possible increases in tax in the next few years.


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