“Creative Planning around the 3.8% Surtax on Unearned Income for Individuals, Trusts and Estates”
Beginning on January 1, 2013 individuals, Trusts and Estates began to be subject to the Net Investment Income Tax created under the Affordable Care Act. Taxpayer's with investment income were surprised this past April when they saw an increase in their aggregate tax liability related to the imposition of this new tax.
There are several planning strategies if implemented correctly that can reduce or, in some instances, eliminate the 3.8% Medicare surtax. Taxpayer's impacted by the Net Investment Income Tax, more than ever before, need to enlist the help of capable professionals to minimize this tax.
James A.J. Revels is a tax partner with more than 20 years of experience providing comprehensive, customized, and innovative planning, accounting, auditing, administration, and income tax services. He advises a broad range of clients, including early stage corporations, bio-tech companies, not-for-profit organizations, high net worth individuals, executives, entrepreneurs, and owners of closely held entities.
Jim specializes in designing and implementing tax-advantaged estate and financial strategies. As the co-chair of the firm’s Trusts and Estate group, he has deep experience providing clients with strategic planning, advice, and government compliance services for all types of trust structures.
As a consultant, Jim advises businesses across all industries in areas such as Internal Revenue Service (IRS) matter resolution, applications for exempt status, tax research for reporting, mergers and acquisitions, debt restructuring, and business reorganization. He also provides expert witness opinions and testimony for law firms, as well as represents clients before the IRS and state agencies.
In addition, Jim is the Director of Corporate Programs for Citrin Cooperman Wealth Management.
Presentations and Publications
Jim regularly writes and contributes to articles on topics such as estate planning, money management, and taxation. His articles have appeared in the Insurance Coverage Law Report, the New York Law Journal, MedCITY News, and State Tax Notes, among other publications. He is frequently engaged to speak on a broad range of subjects, including financial planning, tax changes, and client-advisor relationship management. He has also participated in “Ask the Tax Professional,” a call-in radio show on the KYW News Radio network.
Jim earned his B.S. in Accounting, Business, and Marketing from Delaware State University. He obtained his M.S. in Taxation from Villanova University. He is a Certified Public Accountant in the State of Pennsylvania.
Our thanks to The Sierchio Financial Group and Sierchio & Towsey CPAs, LLP for being the sponsor of this program. Materials regarding their services will be made available at the meeting.