As tax planners and their clients look toward the end of the year, most of their current planning concerns center around two major items: the Affordable Care Act, and the fate of the "extenders." Together, they generate multiple planning issues.

"Be prepared to explain the Net Investment Income Tax to your clients," said Matthias Weber, a tax principal at Haskell & White. "One of the biggest issues is to get comfortable with the concept of the tax, which was created to offset the costs of Obamacare. A lot of individual clients are misinformed from what they hear about it."

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