Planning for Health Care Reform Surtax

To help pay for the cost of universal health care, a new federal tax will be imposed on most net investment income for those with higher incomes. Starting in 2013, higher-income taxpayers will be subject to an additional 3.80 percent tax on most net investment income. This new tax impacts taxpayers with wages or net earnings above $200,000 (single), $250,000 (married filing jointly), or $125,000 (married filing separately). The exceptions to the surtax are distributions from retirement accounts, including pensions, 401(k)s and IRAs, and income generated from municipal bonds.

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Client Letter, Spring 2012

Steve’s “Restylement”

For the last 4 years, my colleague Steve Bogen and I have been making preparations for his eventual retirement—that is, “restylement” (see below)—in order to ensure there was a plan in place for his clients to continue being served by TWM after his departure. That time has now come: Steve will be retiring from wealth management on 3/30/12 and restyling his life around a new vocation.

If you know Steve’s work ethic, you’ll rightly assume that he will not be retiring to an easy chair (read more…)

Also in this post: Uncharted Waters, Market Environment Indicator, Obamacare goes to Supreme Court, and Celebrating 5 years

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Retire at Work

Despite the image that marketers portray of contented retirees lounging on the beach, there are more older workers in the labor force than ever before...

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