Even after the Tax Cuts and Jobs Act of 2017, the wealthy are paying at least a third of their income based on the new tax brackets. (And that doesn’t include their state taxes.) But the additional Medicare surtax they pay in wages (.9%) and capital gains investments (3.8%) just add to their IOU that they already owe the government. And the bleeding doesn’t stop there. Many affluent taxpayers are still subject to the alternative minimum tax, a regressive assessment against high-earning Americans to make sure they pay their so- called “fair shareâ€� in taxes. But now it gets really crazy. “If you don’t talk taxes, you’re not in the game as a consultant to the affluent.â€� For decades, the wealthy have used municipal bonds as a safe haven from taxation. And depending on the issuing jurisdiction the interest rate may be tax-free in one place and not in another. So, it’s important to review the tax con- sequences before purchasing a municipal bond. That being said, even some types of muni bonds may trigger an alternative minimum tax event and could, as unlikely as the odds are, create a capital gain scenario. But even if the client’s muni bonds   Read more…