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7.21.2009

Healthcare Reform Creates Tax Planning Demand

With comprehensive healthcare reform in progress, currently calculated at $1 trillion+, President Obama and House Democrats have proposed significant changes to the medical treatment provided many Americans. Along with healthcare change also comes tax increases for the wealthy to offset the extensive costs. This is not a political commentary or a push to one side of the isle or the other; but rather another planning opportunity for you and your business...

"All told, shifting the cost of health care, Social Security and other budget priorities toward high-income Americans would mean an actual tax rate above 45% for the wealthiest - 'levels never seen,' - Clint Stretch, Deloitte Tax LLP."


Under the House legislation, families earning between $350,000 and $500,000 would pay an additional 1% in income tax. The new tax would increase with higher salaries so that families earning more than $1 million would pay an additional 5.4%. (Full USA Today Article)

President Obama hopes to see the reform passed prior to an August recess, which means that in the very near future your ideal, top-dollar clients are going to be seeking tax planning services more than ever before! Tax deferred annuities, tax-free life insurance and other tax efficient vehicles are going to be in HUGE demand for upper income clients. Start planning today to take advantage of this opportunity. If you don't serve your current and new potential top-dollar clients, someone else reading this will.

Below are some other links/tools that may help and as always, call me for ideas on how to leverage more tax-advantaged strategies in your business.


Matthew J Neuman, Vice President of Marketing
"The Advisor's Advisor"
Click Here for More on "The Advisor's Advisor"

825 S Kansas Avenue, Suite 510
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Posted by Matthew J Neuman, The Advisors Advisor at 9:45 AM

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