Nine Key Tax Rules That Will Affect Advisor Clients Now That The Supreme Court Upheld The Affordable Health Care Act

 

1. Beginning in January 2013, an additional Medicare tax payroll tax of 0.9% will be applied to individuals with adjusted gross income (AGI) exceeding $200,000 and married couples filing jointly with more than $250,000 of AGI.

 

2. Beginning in January 2013, a 3.8% “surtax” will be levied on single taxpayers with AGI exceeding $200,000, and married couples filing jointly with AGI exceeding $250,000. The surtax applies to the lesser of net investment income or AGI exceeding $200,000 for individuals ($250,000 for married couples filing jointly).

 

3. The penalty on those who do not have health insurance is scheduled to take effect January 1, 2014. The annual penalty will be $95 or 1% of income, whichever is greater. It rises to $695 or 2.5% of income for individuals by 2016. Families face a maximum penalty of $2,085, but still will owe 2.5% of household income if that amount is greater.

 

4. In 2012, all W-2s will have to include the value of health care benefits provided to employees.

 

5. Effective in 2011, the penalty on non-qualified distributions from Health Savings Accounts is doubled to 20%.

 

6. In 2013, the itemized deduction floor for medical expenses increases to 10% of AGI.

 

7. Beginning in 2018, the “Cadillac Tax” will become effective — a 40% excise tax on the portion of high-cost health insurance plans that exceed $10,200 for individuals or $27,500 for families.

 

8. Beginning in 2014, a refundable tax credit will be available to help individuals with low income purchase health insurance coverage.

 

9. Beginning in 2014, a non-deductible fee of $2,000 per employee will be imposed on businesses that do not provide adequate coverage. The first 50 employees are not counted.

 

For a detailed discussion of the tax rules affecting clients in the Affordable Health Care Act, please join us for a free webinar on Friday, July 6 at 4 ET, when I will discuss:

  • Medicare payroll tax of 0.9% on joint filers with more than $250,000 of AGI
  • 3.8% surtax on joint filers with more than $250,000 of AGI
  • New reporting requirements on W-2s
  • Doubling of the penalty on non-qualified distributions from Health Savings Accounts 
  • 40% excise tax on high-cost health insurance plans


This Website Is For Financial Professionals Only


A Strategically Focused CE Curriculum

With classes approved for over a decade by the CFP Board, IWI, and NASBA, Advisors4Advisors CE classes are an optimal knowledge stream for CFP®, CIMA®, CPA, CPA/PFS®, CFA®, and other practitioners. It's not a grab bag of speakers willing to sponsor CE content. Nor is it a one-man CE course. It's a group of subject matter experts with amazing communication skills and a history of thought leadership that, together, give advisors a well-rounded knowledge system for running a professional practice ethically and intelligently.

CE Since October 2008

A4A CE classes for financial professionals began in October 2008, the week Lehman Bros. collapsed. Initially billed as “The Financial Crisis Webinar Series,” A4A connects advisors with authoritative sources on investing, tax, and financial planning, chosen by A4A Editor Andrew Gluck, a veteran financial reporter. A4A members get a stream of CE classes for an advisor who: 

  • holds a CFP®, CIMA®, CPA, CPA/PFS, CFA or other designation requiring CE annually 
  • values monthly CE classes by Fritz Meyer, Craig Israelsen, Frank Murtha, or Andrew Gluck
  • diversifies a core of client portfolios in low-expense funds
  • invests based on MPT and economic fundamentals
  • advises on tax and financial planning as well as investing
  • needs financial counseling skills
  • wants the Certified Financial Counselor™ designation 
  • is building a brand as a thought leader locally or in a niche
  • wants the facts when bad news breaks
  • wants CE aligned with a content marketing system
  • wants 24/7 access to CE on-demand
  • insists on objective evidenced-based tax and investment planning analysis

 

MEMBER REVIEWS 
William Desormeau, Jr.  
It is not possible for me to overstate the cumulative value that Craig and Fritz have added for over 10 years to my investment advisory practice, as well as for personal and family financial planning. A4A gets my highest recommendation
Lynn Najman, CFP®
I’ve subscribed to A4A since its inception, and always find it intellectually stimulating and on point. It’s one of the few CE solutions out there that doesn’t waste my time by pushing product or talking down to me.

PeteDeacon-CPA-CFP
Pete Deacon, CPA, CFP®
A4A has had a profound effect on my business. Since 2009, I’ve relied on the consistent messaging and updates to run my business successfully. Being able to present the information from Fritz, and Craig's ongoing CE webinars has been a significant benefit.

fredericMayersen-phd-cfp
Fredric Mayerson, MBA, PhD, CFP®
I've been a financial professional and professor of finance for 35 years and find Fritz Meyer to be among the most engaging, incredibly knowledgeable, and experienced presenters I’ve encountered. They deliver an extraordinary amount of information in an extremely interesting way — sequentially and developmentally, utilizing pedagogical tools and techniques that few possess.  A4A to is the most consistently excellent CE program available.  
Ron Roge, MS, CFP®
I’ve been attending A4A many years because the CE classes are outstanding, and my time is valuable. Though I have over 35 years of experience, I’m always learning something new on A4A. I attend fewer conferences now because the CE is generally not advanced. If you want to learn from the best, in a faster, easier, and less expensive way, I highly recommend A4A.

John R. Day, CPA/PFS®

I’ve been a member since 2011 and never miss the monthly webinars with Fritz Meyer. I appreciate Fritz’s independent views on the economy keeps me updated on excellent  planning ideas. A4A is a great value!
NormanPolitzinerCFP

Norman Politziner, CFP

I wouldn't miss a Fritz Meyer webinar unless my pants were on fire. I've relied on Andrew Gluck's knowledge systems --client communications and CE -- for two decades. It's simply the best solution for tax, financial, investment, and risk-management professionals.®   

Dan Hawley, CFP® 

A4A, for over a decade, has been a great resource for useful and accurate information and CE. A4A and Advisor Products are bargains for an advisory practice. 

KevinBrosious-CFP-CPA-PFS

Kevin Brosious, MBA, CFP®, CPA/PFS®

I get CPA CE credit and CFP credit for the webinars.  But not only that, the A4A content is terrific