More tax planning opportunities under ATRA

03/17/2013 | Morningstar

A number of new tax planning opportunities under the American Taxpayer Relief Act have gone unnoticed. Holders of Series E bonds can report all accrued interest in 2012 and avoid the higher income tax rate and the 3.8% Medicare tax; tax-free IRA distributions to charities will be more valuable as they reduce adjusted gross income; and tax-exempt income becomes even more attractive as it is not subject to the 3.8% Medicare surtax. PFP/PFS members, use the Proactive Planning for 2013 Toolkit for planning resources and opportunities under ATRA.

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