Facing the Fiscal Cliff

April 2013
Financial Planning;Apr2013, Vol. 43 Issue 4, pA1
The article focuses on the tax rate increases that the client faced. It states that as a result of a reform in health care, 3.8 percent Medicare surtax went into effect on January 1, 2013 for married earning more than $250,000 and for those who are single earning more than $200,000. Furthermore, the Social Security Tax returns from 4.2 percent to 6.2 percent that was from 2010 to 2012. INSETS: Medicare Taxes: Not Black and White;Changing tax treatment of retirement savings could finds....


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