Understand tax impact of healthcare reform

Q: What are the major tax changes stemming from the healthcare reform legislation?

Also in 2013, investment income tax will see an increase. According to the legislation, the tax will be 3.8 percent of either net investment income for the taxable year, or of the modified adjusted gross income over $200,000 for single taxpayers and $250,000 for married couples, whichever is lower.

Send your money management questions to medec@advanstar.com (please include your regular postal address). Answers to our readers' questions were provided by Jesse T. Karich, financial advisor, North Star Resource Group, Minneapolis, Minnesota.