2013 Medicare Tax Increases: New Issues for Tax Return Preparers
Tackling the Net Investment Income Tax and Surtax on Wages and Self-Employment Income
Recording of a 110-minute CPE webinar with Q&A
This course will improve tax return preparers' familiarity with issues involving two new Medicare surcharge tax increases for high income earners effective Jan. 1, 2013. The panel will discuss the 3.8% Medicare surcharge on investment income and .9% Medicare surtax on wages and self-employment income.
Net investment income tax
- Definition of net investment income
- Computing the tax
- Filing status selection implications
9% Medicare surtax on wages and self-employment income
- Issues for employers
- IRS guidance
The panel will review these and other key questions:
- What complexities should tax preparers be cognizant of with respect to the new taxes?
- What is included in net investment income?
- What impact could the selection of filing status have on the tax calculations?
- Can individuals work with their employers to arrange for withholding of the additional Medicare taxes, if the employees' wages might not have triggered an automatic withholding threshold?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Upon completing this seminar, you will have increased knowledge about the new Medicare surcharge rules and a better understanding of the definition of net investment income and ways to compute the tax.
Tax Services Manager
She is a federal tax specialist for partnership clients at the firm, researching and providing advice on... | Read More
She is a federal tax specialist for partnership clients at the firm, researching and providing advice on partnership-related issues for regional offices. She previously worked at Deloitte Tax with closely-held businesses and high-net-worth individuals.Close
Mary B. Hevener
Morgan Lewis & Bockius
She focuses her practice on benefits provided to employees and independent contractors outside of qualified retirement... | Read More
She focuses her practice on benefits provided to employees and independent contractors outside of qualified retirement plans. She advises large U.S. and multinational companies on minimizing payroll taxes and maximizing corporate deductions with respect to worker benefits. She has been involved in tax litigation involving income tax withholding and FICA taxation of tax-qualified stock options.Close
Stephen J. Bigge, CPA
Keebler & Associates
Mr. Bigge focuses on developing comprehensive financial, estate and income tax analyses and wealth transfer techniques... | Read More
Mr. Bigge focuses on developing comprehensive financial, estate and income tax analyses and wealth transfer techniques including FLP, GRATS, CRTs, ILITs and IDGTs. He specializes in estate, gift and retirement planning, charitable gift planning, as well as trust and estate administration. Mr. Bigge is also experienced in providing tax planning for individuals, trusts and flow-through entities and is a frequent writer for Taxes Magazine.Close