The most recent IRS data shows that more than 63 percent of taxpayers with qualified dividend income are 50 and older.

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Special Offer: Earn yields of 15% and higher in qualified dividend income.

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One area with greater potential to impact portfolios is the fate of the qualified dividend tax rate, scheduled to increase from 15% to ordinary income.

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The current qualified dividend rates will be taxed as ordinary income.

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Many, but not all, preferred shares produce qualified dividend income that is taxed at a preferential rate of up to 20% versus the ordinary-income rate of as much as 39.6%.

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Meanwhile, if you want a fund chock full of preferred stock that will give you qualified dividend income, look to the PowerShares Financial Preferred ETF, which produces 100% qualified income, says Ms. Woodham.

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The average REIT dividend is around 4%, moreover, and fully taxable, unlike qualified stock dividends.

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Qualified dividends are currently taxed at the same rate as capital gains, which means an individual who enjoys significant dividend income is, at most, handing over 15% of her checks to the federal government.

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