What Our Members Have to Say

April 2016 Update Save Green with Sustainable Tax Breaks & The Tax Impact of Debt Relief

lieberman

Go, Save Green with Sustainable Tax Breaks

Many people want to do something, however small, to contribute to a healthier environment. There are many ways to do so and, for some of them, you can even save a few tax dollars for your efforts.

Indeed, with the passage of the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) late last year, a couple of specific ways to go green and claim a tax break have been made permanent or extended. Let’s take a closer look at each.

October 2015 Update

liebermanYear-End Tax Planning & Shared Equity Financing Arrangements

Time to Start Year-End Tax Planning

The federal income tax rates for 2015 are the same as last year: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. However, the rate bracket beginning and ending points are increased slightly to account for inflation. For 2015, the maximum 39.6% bracket affects singles with taxable income above $413,200, married joint-filing couples with income above $464,850, heads of households with income above $439,000, and married individuals who file separate returns with income above $232,425. Higher-income individuals can also get hit by the 0.9% additional Medicare tax on wages and self-employment income and the 3.8% net investment income tax (NIIT), which can both result in a higher-than-advertised marginal federal income tax rate for 2015.

September 2015 Update

liebermanPlanning for the 3.8% Net Investment Income Tax & Same-Sex Marriages

Planning to Avoid or Minimize the 3.8% Net Investment Income Tax

The net investment income tax, or NIIT, is a 3.8% surtax on investment income collected from higher-income individuals. It first took effect in 2013. After filing your 2014 return, you may have been hit with this extra tax for two years, and you may now be ready to get proactive by taking some steps to stop, or at least slow, the bleeding for this year and beyond.

NIIT Basics. The NIIT can affect higher-income individuals who have investment income. While the NIIT mainly hits folks who consistently have high income, it can also strike anyone who has a big one-time shot of income or gain this year or any other year. For example, if you sell some company stock for a big gain, get a big bonus, or even sell a home for a big profit, you could be a victim. The types of income and gain (net of related deductions) included in the definition of net investment income and, therefore, exposed to the NIIT, include—

Eating For A Healthy Gut

egglrock blog photo What's Eating You?

by: Laura L. Rokosz, PhD

Your Microbiome: Your Microbiome serves as the perfect host for all of the microbes (aka probiotics) that live in and on your body. Did you know that you harbor ten times more microbial matter than all of your human cells combined? As frightening as this may sound your microbiome serves a very important purpose. It enables digestion, supports your immune system and protects you from unwanted invaders. A breakdown of your microbiome will lead to a host of inflammatory diseases. Take good care of your microbiome and it will take good care of you.

FREE Discount Prescription Drug Card Available

Improving the Quality of Life and Saving Families Money with FamilyWize


By James W. Horne, Jr.

President/CEO, United Way, Greater Union County

The implementation of the Affordable Care Act has allowed more people to have access to healthcare although, sadly, there is a great number who are still uninsured. These are moderate to low-income working-class people who cannot afford their prescription medication, either because they have no insurance or their medication is not covered under their insurance.

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