Saturday, September 8, 2012

Wealthy Work to Avoid Health-Care Law's 'Mini-Cliff'



 
Tom Grill | Photographer's Choice RF | Getty Images

Tax planners are developing ways to help well-to-do U.S. clients avoid the full impact of taxes set to take effect next year under President Barack Obama's health-care overhaul.
With some legal uncertainty still surrounding the new levies, advisers are devising methods for high-income taxpayers to shelter investment and other forms of income.
Obama's health-care law imposes a 3.8 percent tax on investment income and a 0.9 boost in payroll taxes, both applying only to individuals earning more than $200,000 a year or households earning more than $250,000.

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