“From thirty feet away she looked like a lot of class. From ten feet away she looked like something made up to be seen from thirty feet away.” – Raymond Chandler, The High Window That’s typically true of legislation that...more
Medicaid is a joint federal and state program that provides health coverage to millions of Americans. Federal law requires states to comply with certain minimum requirements, but New York is considered a maximum state in that...more
Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to $170.10 a month. The Centers for...more
For much of the past two years, enrollment in the Medicaid and CHIP programs has been declining. In May, 2017, enrollment in both programs was 74.6 million people. As of May of this year, enrollment had declined by 2.5%, to...more
Overview of Federal Regulation - As transactions involving cryptocurrencies, such as Bitcoin, become more prevalent, regulatory oversight has been evolving....more
The 3.8% net investment income tax (NIIT) can affect an estate plan in two ways: First, it can increase tax on capital gains, taxable interest and other investment income, reducing the amount of wealth available to heirs....more
In This Issue: - The net investment income tax and your estate plan: How one affects the other - Use a noncharitable purpose trust to achieve a variety of goals - Addressing adopted children or stepchildren in your...more
In This Issue: - New 3.8% Medicare contribution tax: Do you know how to reduce or eliminate your liability? - Estate planning for adopted children and stepchildren - Shipping your trust over the state line to...more
One of the funding mechanisms for health care reform is a new 3.8% Medicare contribution tax on net investment income (NII) going into effect this year. The tax applies to higher-income individuals as well as to trusts and...more
The Roth IRA is the better-looking (and smarter!) cousin of the traditional IRA. The Roth IRA came into existence in 1997 as part of the Taxpayer Relief Act. The provision was named for Senator William Roth of Delaware. ...more