Obamacare added a 3.8% tax on doctors’ personal investment income in order to fund healthcare reform. Fortunately, careful planning can reduce or eliminate the impact of this tax for doctors. Below we discuss 9 strategies to help dodge this tax bullet!
Congress levied this 3.8% surtax on the lesser of the doctor’s net investment income, or his Modified Adjusted Gross Income (MAGI) that exceeds $200,000 if single, or $250,000 if married, in order to pay for Obamacare.
What counts as investment income? Interest, dividends, certain rents, annuities and royalties. Income from passive activities, such as rental real estate, is also included, along with...
Log in to view this resource
Not Yet a Member?
Join The McGill Advisory with a money-back guarantee
Learn More
Join
Start Your Free 45-Day Trial Membership
Begin increasing your wealth—by saving on taxes, boosting practice profit, conserving what you earn, and ensuring a successful retirement.
Your 45-day free trial entitles you to an 8-page monthly newsletter, plus unlimited online 24/7 access to hundreds of tax reduction, practice management, wealth protection, and retirement planning solutions. No obligation, no credit card.
Free 45-Day Trial Membership
The McGill Advisory content Is provided For informational purposes only And does Not constitute legal, accounting, Or other professional advice.
Copyright © 2022 John K. McGill & Company, Inc.
Tax | Individual
2 Ways To Turn Stock Market Losses Into Tax Savings
Read Article
Tax | Individual
Two Strategies To Make The Most From The Proposed Retirement Savings Rules
Read Article
Tax | Individual
Maximize Tax-Free HSA Reimbursements Using These Creative Medical Expenses
Read Article
Tax | Individual
6 Steps To Jumpstart Your 2022 Financial Success
Read Article
Tax | Individual
Just Say No To Syndicated Conservation Easements
Read Article
Tax | Individual
Four Ways To Save Using A Qualified Charitable Distribution (QCD)
Read Article
Once you have created your account, click below to refresh this page and access this content.