Get Ready for the 3.8% Tax on Net Investment Income

Probate & Property Magazine: Volume 27 No 04

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Steven B. Gorin is a partner in the St. Louis, Missouri, office of Thompson Coburn LLP and a member of the Section Council. Lisa M. Rico is a principal in the Needham, Massachusetts, firm of Shea, Diamond & Rico LLP and the co-vice-chair of the Trust and Estate Division’s Business Planning Group. Amber K. Quintal is an associate with the Seattle, Washington, firm of Ogden Murphy Wallace, PLLC, and vice-chair of the Estate Planning and Administration for Business Owners, Farmers and Ranchers Committee. This article was a project of the Business Planning Group.

With the enactment of Net Investment IncomeTax, high-income taxpayers with substantial income from investments rather than wages or self-employment will not necessarily avoid Medicare contribution taxes.

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