September
Showing 49–50 of 50 results
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Additional 0.9% Medicare surtax in 2013
September 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 154
Abstract: The Patient Protection and Affordable Care Act provides that, beginning in 2013, a new 0.9% Medicare surtax will be imposed on wages and self-employment income in excess of specific modified adjusted gross income (MAGI) threshold amounts. This brief article mentions some of the specifics.
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New 3.8% Medicare contribution tax on unearned income
September 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 658
Abstract: Beginning in 2013, the 2010 Health Care Act, as amended by the 2010 Health Care Reconciliation Act, imposes a Medicare contribution tax on unearned income (Medicare contribution tax) on individuals, estates and trusts. For individuals, the tax is 3.8% of the lesser of (a) net investment income or (b) the excess of modified adjusted gross income (MAGI) over the applicable threshold amount. This article examines the details and offers three examples of the potential tax impact.