Introduction

As an e-Compass recipient, you are the first to receive the recent edition of our Executive Economic Outlook.

Click on the link below to read our opinion on the economy over the next 6 months.

Spring/Summer 2010

Executive Economic Outlook

We received several applications for the Multop Financial Scholarship.  Stay tuned as our Advisory Board will be selecting the recipient in June.

Multop Financial Helping Kids

On Saturday, June 5th, Multop Financial will proudly sponsor the Michael Koenen 2010 All-Star NFL Football Kids Camp.  This is a free, non-contact camp for 3rd to 8th graders at Ferndale High School from 1pm to 5pm.  The camp will feature Atlanta Falcons punter Michael Koenen, Atlanta Falcons defensive tackle Thomas Johnson, Atlanta Falcons running back Jerious Norwood and former Seahawk/Pro-Bowler Alex Bannister.  Immediately following the football camp will be the 2nd Annual Whatcom County Alumni All-Star Basketball Showdown with a multitude of autographed raffle prizes, including signed NFL footballs and jerseys!

Click on the link below to find out how to register for the football camp and more information about the basketball game.  The deadline for registration is May 31, so don’t wait!  If you have any questions please call Andrew Knox at (360) 671-7891.

Michael Koenen 2010 NFL All-Star Kids Camp

Tax Tip – Health Care Reform

Whether you’re Republican or Democrat, Liberal or Conservative when it comes to health care legislation, we can all agree –it’s expensive.  The Congressional Budget Office estimates that the legislation will cost $950 billion over a ten-year period.  According to the Boston Globe, to offset the increased role of government in health care, several tax increases (also known as revenue provisions) have been imposed:

• Sec 1002 – Individual Responsibility: Starting in 2014 everyone will be required to maintain health insurance or be subject to a $695 tax per year.
• Sec 1003 – Employer Responsibility: Large companies will be required to provide health insurance to employees or face a $2,000 tax per employee per year.
• Sec 1401 – High Cost Plan Excise Tax: By 2018, high cost health insurance plans (single plans in excess of $10,200 and family plans in excess of $27,500) will be assessed an additional tax.
• Sec 1402 – Medicare Tax: Starting January 1, 2013 a Medicare tax will assessed on investment income for families making in excess of $250,000 and for singles making in excess of $200,000.  Invesment income includes interest, dividends, capital gains, rental income and royalties. 
• Sec 9015 – Orignial Medicare Tax: The Medicare tax rate increases by a third, from 2.9 percent to 3.9 percent.
• Sec 9013 – Reducing Itemized Medical Deductions: Those filers with significant medical costs will have their ability to deduct these expenses reduced.  This legislation increases the adjusted gross income threshold for claiming an itemized deduction from 7.5 percent to 10 percent.
• Sec 10907 – Excise Tax on Indoor Tanning Services:  This is a sales tax of ten percent assessed on trips to tanning salons, beginning July 1, 2010.

Multop Financial
333 Calluna Ct
Suite 205
Bellingham, WA 98226

Phone: (888) 671-7891
Fax: (360) 671-4963
Email: info@multop.com

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