Below is helpful information on how the "IRS has finalized Rules on the Additional Medicare Tax".
As written, someone in Oregon making $200K will still have it made (especially as Oregon has no sales tax either). However, my clients living in San Jose, Saratoga, Cupertino and Palo Alto will have it tough with the same income.
And as written, the IRS appears to be rewarding the people "living in sin" and penalizing the married folks.
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
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