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Tip Nov 2012 - "Tip: Strategies to Offset New Health Care Taxes"

Tip Nov 2012 - "Tip: Strategies to Offset New Health Care Taxes"

Tip Nov 2012 - "Tip: Strategies to Offset New Health Care Taxes"

Excerpt


Tip: Strategies to Offset New Health Care Taxes



Trying to make business or investment decisions based on whether the Bush tax cuts will expire on Dec. 31 is like rolling the dice. But there is little or no speculation required when it comes to the taxes needed to fund President Obama’s health care overhaul. Regardless of who wins the presidential election, new taxes on investment income and a boost in payroll tax are slated for 2013. The new taxes are expected to yield $210 billion over a decade to help fund the health care law, which aims to expand insurance coverage to more than 32 million Americans. Here’s an overview of how the new levies will be imposed as of Jan. 1, 2013. It is estimated that about 4 percent of the tax-paying population will be affected by the new health care law levies:


 


 


 



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