2013 industry news: Real Estate Investors Facing Higher Taxes In The New Year
- 01/08/13 03:39 AM
WHAT TAX ADJUSTMENTS IMPACT REAL ESTATE INVESTMENTS------------------ American Taxpayer Relief Act of 2012: A top capital gain tax rate that has seen a permanent 5% increase (from 15% to 20%) for single filers with incomes above $400,000 and married couples with incomes exceeding $450,000. IRC Section 1411: A Medicare surtax on net investment income (including capital gains) resulting in a flat 3.8% increase. RESULT: Higher-income taxpayers receive an increase of 58% as compared to 2012. The fiscal landscape of the United States has changed in more ways than the everyday citizen can keep up with. High earning real estate
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