Page 7 - February 2017

6 Proposed Tax Changes that Could

Affect High-Net-Worth Individuals

With tax season officially here, many Americans are
SFHHA 2017 Calendar wondering how the new presidential administration will
affect their tax bill going forward. While we don’t yet know
which campaign promises will eventually become legisla-
The 2017 educational offerings of the South Florida Hospital & Healthcare tion, President Trump’s tax proposals could result in signif-
Association (SFHHA) are in full swing! SFHHA is the best source in South Florida icant rate changes for many Americans.
for reliable information and sound advice for healthcare decision-makers. SFHHA Two of my colleagues who specialize in helping busi-
strives to improve the efficient delivery of quality healthcare services in South nesses and individuals with tax planning, David Merzel,
Florida by championing collaboration and communication among leaders across CPA, CFE, EA, and Meredith Tucker, CPA, recently co-
the healthcare continuum. authored a blog post about the six proposed tax changes
To do so, the SFHHA has selected the most timely and important topics as iden- that are most applicable to high-net-worth taxpayers. The
tified by our healthcare leaders and members, providing valuable educational following is a summary of the proposed changes.
opportunities in 2017. See below for the 2017 SFHHA calendar of upcoming 1. Reduction in top rates. Today’s federal income tax
events. Save the dates! rates include seven brackets ranging from 10% at the low- BY KEVIN N. FINE, MHA
est to 39.6% for the highest-earning Americans. Under the
January 19: MACRA – How you can prepare now proposed changes, brackets would be reduced to three tiers, maxing out at a reduced rate
February 3: Election’s Impact on Healthcare Policy of only 33% for incomes over $225,000. Long-term capital gains rates would be held at
February 21: Winter Networker 20%.
February 22: CJR Bundle 2. Elimination of the Net Investment Income Tax. Americans earning over $250,000
February 23: 2017 Health Tech Trends were impacted by the 2013 implementation of the nation’s 3.8% surtax on investment
income. This surtax would be eliminated under proposed tax changes.
March 17: Patient Experience + Networking
3. Limitations on itemized deductions and increases to standard deductions. Under
March 28: Hospital Compliance
President Trump’s proposal, aggregate itemized deductions would be limited to a lump
April 4: New Member Breakfast
sum total of $200,000 for married/joint filers and $100,000 for single taxpayers.
April 6: Spring Networker
However, those utilizing the standard deduction would benefit with married/joint tax-
April 15: Telemedicine payers receiving a bump to $30,000 in standard deductions, up from approximately
April 19: CEO Think Tank – Networking “On the Road to Quality” $13,000.
April 21: Safety & Security Committee Training Session 4. Elimination of Alternative Minimum Tax. President Trump’s proposal would elimi-
May 11 & 12: Annual Healthcare Summit: The TRIPLE AIM nate the Alternative Minimum Tax, a long-standing tax system that runs parallel to the
Breakout Session Topics: Health Information Technology, Telemedicine, regular tax system for wealthy taxpayers.
Transition of Care “Secret Sauce”, Healthcare Finance 5. Increase in carried interest tax rates. Carried interest earned by those in the private
July 13: Health Information Technology Event (TBD) equity world is currently taxed at a preferential 20% rate akin to long-term capital gains.
Under Trump’s proposed changes, this income would revert to higher, ordinary tax rates.
August 1: New Member Breakfast
6. Changes to estate and gift taxes. The current system imposes a 40% tax on an estate
August 17: Summer Networker
to the extent it exceeds$5.45 million. Trump has proposed the complete repeal of estate
September 8: Safety and Security Committee Training Session
taxes; however, capital gains held until death and valued over $10 million would be taxed
September 26-28: Leadership Breakfast (Miami-Dade, Broward, Palm Beach)
at a 20% rate.
October 4: Health Information Technology - Cybersecurity Speak to a tax advisor to learn how these and other proposed tax changes could affect
October 23: Annual Golf Tournament your tax situation.
October 26: Fall Networker
November 1: Quality Committee Education Session: Kevin Fine is a director of healthcare advisory services in the Miami office of Kaufman Rossin,
“Regulatory Tsunami:Weathering the Storm” one of the Top 50 CPA and advisory firms in the U.S.
November 7: New Member Breakfast He can be reached at kfine@kaufmanrossin.com.
December 7: Annual Meeting & Dinner
Wellington Regional Medical Center
SFHHA Is Calling Its
Members to Action: Raises $18,500 for 41 Local Families

Requesting speaker presentation proposals Wellington Regional Medical Center (WRMC) proudly announced that through
for any of the topics above.* the generosity of the medical staff, hospital employees and the medical executive
committee, the hospital collected $18,500 to help 41 local families during the holiday
season. Through a partnership with nine local public schools, families with severe
Send all proposals to Lourdes Barroso, Director of Program Development at circumstances were identified.
LBarroso@sfhha.com. Opportunities to underwrite these are also available. Joseph Paul, Chief Financial Officer at WRMC, launched this initiative in 2013.
Please call SFHHA for more information at (954) 964-1660 or visit Since then, the hospital has assisted 103 school-aged children and their families and
www.sfhha.com. Follow SFHHA on LinkedIn, and Twitter @sfhha for daily has given over $50,000. The families each received a Walmart gift card for food,
updates on news and events. clothing, medicines, household goods, and toys for the children.

Coming next month in

South Florida Hospital News
and Healthcare Report...

Annual Salute to Doctors Issue: Physician Profiles
• Real Estate – Healthcare Design,
Construction, Facility Planning,
•Leasing vs. Buying
•Physician Group Practice Management
• Hospital/Physician Relations
•Hospitalist Programs •MACRA Update

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