Thrifty Thinking: ATRA and NIIT

This might be the year to cut back on life insurance. Or take home less money. It might even be in your best interest to take a stock market loss. The American Taxpayer Relief Act (ATRA) and the Net Investment Income Tax (NIIT) have added layers of complexity to personal finance, making it more difficult to navigate the many interconnected pieces of tax, retirement, insurance and investment planning. 

On October 22, from 1-2 pm Eastern, the Personal Financial Planning Section of the American Institute of CPAs and the profession’s 360 Degrees of Financial Literacy program will host a free webcast on year-end planning. An experienced panel of financial practitioners will provide a plain English explanation of the recent changes and provide consumers with insight on considerations for their own year-end planning. The webcast is free and open to the public.

CPA financial planners Karen Goodfriend, CPA/PFS; Ted Sarenski, CPA/PFS; and Scott Sprinkle, CPA/PFS will explain:

 

•       Itemized deduction phase-outs and multi-year/multi-scenario projections

•       The shift from estate tax planning to holistic estate planning

•       The changing needs for trusts and life insurance

•       The effect of 2014 healthcare rules on individuals with and without insurance today