Here is some important information regarding the net investment income tax (NIIT), which may be relevant to your financial situation.
NIIT Overview
The NIIT is a 3.8 percent tax that could apply if your modified adjusted gross income (MAGI) exceeds $200,000(single filers), $250,000 (married, filing jointly), or $125,000 (married, filing separately). It targets the lesser of your net investment income…
The clock continues to tick. Your retirement is one year closer.
You have time before December 31 to take steps that will help you fund the retirement you desire. Here are five things to consider.
1. Establish Your 2023 Retirement Plan
First, a question: Do you have your (or your corporation’s) retirement plan in place?
If not, and if you…
Here’s an easy question: Do you need more 2023 tax deductions? If the answer is yes, continue reading.
Next easy question: Do you need a replacement business vehicle?
If so, you can simultaneously solve or mitigate the first problem (needing more deductions) and the second problem (needing a replacement vehicle) if you can get your replacement vehicle in service on…
