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IRS has finalized Rules on the Additional Medicare Tax

By
Services for Real Estate Pros with William T. Zumwalt CPA, CTC "The Tax Coach for REALTORS"

The final regulations were released last week for the new Affordable Care Act this past week. The biggest point in this legislation for most of us will be the additional .9% tax on income. This tax kicks in at income for singles at the $200,000 and above income level. This tax kicks in for married couples making over $250,000.

I think I see a marriage tax here! If two people are single then it doesn’t start until $400,000 ($200,000 a piece) while the poor married couple tax starts at $250,000.  The real discrimination is the cost of living in your home state.  Taxpayers’ who live and work in, say, Manhattan and make $250,000 are having a rough go of it. While those living in Oklahoma would be living the dream

Bill Zumwalt
Helping REALTORS with Tax Solutions and Solving Tax Problems for REALTORS
REALTOR Tax Preparation, REALTOR Tax Accountant, Tax Preparation Tulsa, OK
Accountant Tulsa, OK, CPA Tulsa, OK, Tax Prep Tulsa, OK, Tax Savings Tulsa, OK, Tax Accountant Tulsa, OK
The Tax Coach for REALTORS

William T Zumwalt CPA,CTC, PLLC
5416 South Yale Ave
Suite 120
Tulsa, OK 74135
918-583-1040
855-993-3339
Bill@TeamZumwalt.com
www.TeamZumwalt.com

Raymond E. Camp
Ontario, NY

Good morning William,

I hat to be repetitive but the tax code in all forms of government should be trashed and a fair one enacted with a clause they may not change it.

Make yourself a great day.

Dec 12, 2013 09:10 PM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Thanks for your comments on this issue

Dec 12, 2013 09:30 PM
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

I read an article a few weeks back where a couple got divorced because they discovered that they would pay less in taxed as two single people but they were able to keep all of the other benefits- I wonder if they are going to be the leaders of a new trend!

Dec 12, 2013 11:05 PM
Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

ps- Suggested!

Dec 12, 2013 11:06 PM
Anonymous
Bill Zumwalt
In Oklahoma half the marriages end up in divorce. So why not have the other half divorce for tax reasons.
Dec 13, 2013 01:39 AM
#5
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Strange to see how the IRS is penalizing folks who are married.

Dec 14, 2013 04:24 AM