Checking off RMDs on the year-end to-do list

/ Posts Tagged "NIIT"

Checking off RMDs on the year-end to-do list

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December 9, 2025 , , , , ,

RMD distribution

You likely have a lot of things to do between now and the end of the year, such as holiday shopping, donating to your favorite charities and planning get-togethers with family and friends. For older taxpayers with one or more tax-advantaged retirement accounts, as well as younger taxpayers who’ve inherited such an account, there may be one more thing that’s critical to check off the to-do list before year end: Take required minimum distributions (RMDs).
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Boost your tax savings by donating appreciated stock instead of cash

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October 14, 2025 , , ,

donate stock

Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you donate long-term appreciated stock, you potentially can save even more.
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Are you liable for two additional taxes on your income?

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August 27, 2024 , ,

NITT and Medicare Tax

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Let’s take a look at these taxes and what they could mean for you.

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Taxes when you sell an appreciated vacation home

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April 30, 2024 , , ,

selling vacation home

Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home.

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What you need to know about restricted stock awards and taxes

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November 7, 2023 , , ,

restricted stock awards

Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or all of their value if the price of the underlying stock takes a dive. But with restricted stock, if the stock price goes down, your company can issue you additional restricted shares to make up the difference.

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Investment swings: What’s the tax impact?

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September 12, 2023 , , ,

investment taxes

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to know to avoid tax surprises.

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Reduce the impact of the 3.8% net investment income tax

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June 6, 2023 , ,

net investment income tax

High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some ways you may be able to reduce its impact.

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Is your income high enough to owe two extra taxes?

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September 6, 2022 , , , ,

investment income tax

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you.

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Selling a home: Will you owe tax on the profit?

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September 14, 2021 , ,

tax on sold home

Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was $411,200 in the Northeast, $275,300 in the Midwest, $305,200 in the South and $508,300 in the West.

Be aware of the tax implications if you’re selling your home or you sold one in 2021. You may owe capital gains tax and net investment income tax (NIIT).

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Plan ahead for the 3.8% Net Investment Income Tax

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June 1, 2021 , , ,

net investment income tax

High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some steps you may be able to take to reduce its impact.

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