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capital gains: 3.8% tax rumor that has been circulating on the net - 12/22/11 11:43 PM
There is a new 3.8 percent federal tax that goes into effect in 2013 to help pay for the Health Reform Act. But it is on capital gains, not real estate. And it is only on those capital gains of individuals who earn more than $200,000 ($250,000 for couples) annually, and then only on that portion of their incomes over $200,000. Real estate income is not exempted from this tax. If all or part of your income includes profits from real estate investments, and your income is over $200,000, then you will be paying a new tax on that income over
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Lulu Williams R(B)
Kihei,
HI
More about me
Coldwell Banker Island Properties
Address: PO Box 1312, Kihei, HI, 96753
Cell Phone: (808) 283-3783
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