Over the past quarter, I have sent out a series of emails highlighting issues surrounding the so-called “fiscal cliff” associated with the expiration if the Bush-era tax cuts at year’s end, in hopes that this information would aid you in planning.
Given the election outcomes, it’s clear that the initiatives enacted by the current administration will continue, including the phase-in of new taxes associated with the health reform law passed in 2010. At least 20 new taxes are associated with this law (known as PPACA) and will affect people to some degree, even those currently on Medicare. Many of these taxes are scheduled to begin in 2013.
I have found a concise and informative video from the American College (a financial education and licensing organization). Just click on the link below to watch::
Please share this information with your relatives and friends as there is something here that will touch nearly everyone, and for which planning is appropriate.-->