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Yosefa R. Huber, CPA is a division of KYC Israel Research Services, Ltd

©2019 by Yosefa Huber

May 18, 2017

In 2017 the Israel National Insurance Institute ("Bituach Leumi") will be opening long-term savings plans for every Israeli child who was under the age of 18 on December 31, 2016. Bituach Leumi will deposit ₪50 each month, plus ₪500 when the child turns 18. Young Israelis who don't touch the savings until they turn 21 receive an additional ₪500. Parents may choose to make a matching contribution of ₪50 per month, deducted from their child allowan...

April 2, 2017

There may be a new administration in Washington, D.C., but the "Obamacare Tax" is still weighing on high-earning Americans world-wide. The Net Investment Income Tax (NIIT), also referred to as the “Unearned Income Medicare Contribution surtax”, was initiated in 2013 to fund the Affordable Care Act (aka “Obamacare”) by taxing the highest earning Americans an additional 3.8% on “unearned” or “passive” income.

Who pays?

If you are filing a form 1040 t...

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