“The Medicare tax could pack a punch for certain investors. It is not a sales tax. And it won’t apply to home-sale gains excluded from income under current law. But it could affect investors with outsize gains or gains from the sale of a vacation home or investment property. Determining whether you will be subject to the tax is no easy matter. Here’s what we do know. The new tax will hit individuals with more than $200,000 in adjusted gross income, and married couples with adjusted gross income above $250,000 ($125,000 for married taxpayers filing separately). These thresholds are not indexed for inflation.”
http://www.economicpolicyjournal.com/2012/10/coming-medicare-tax-if-you-sell-your.html
Related posts:
Eurozone jobless numbers hit record 18 million
There They Go Again: Fed Officials Give Rate Timetables
Apple co-founder Steve Wozniak wants to become an Australian citizen
L.A. County Sheriff's Department will fire seven deputies who formed gang
5-year-old kindergartner with pink bubble gun suspended from school
Turkish president 'flees country in private jet' after military coup
Seemingly terrific April jobs report poses strange puzzle
China’s Largest Bank Declares War on Alibaba
What Really Drove the Children North
U.S. warns Egypt of return to ‘bad old days’ of Mubarak
Ex-sheriff charged with drug distribution, selling guns from evidence
Barclays account shutdown raises Somali fears
Iowa implementing face recognition program to track sex offenders
Trump to courts: Stop opposing my travel ban, because here's another one
Man sics cops on kid's lemonade stand, now in license trouble himself
