IRS has finalized Rules on the Additional Medicare Tax

Reblogger Michelle Carr Crowe,Altas Just Call...408-252-8900!
Real Estate Agent with Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty DRE# 00901962 Lic.1985

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.

Original content by Bill Zumwalt

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

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Rainer
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Brad MacKenzie
Brad MacKenzie - Duxbury, MA
Turning Houses into Homes on the South Shore

Living the dream . . . in Oklahoma!

Dec 14, 2013 04:48 AM #1
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Michelle Carr Crowe,Altas 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
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Yes, it goes to show that so much of policy is influenced by where you live in in the U.S.

Dec 14, 2013 06:34 AM #2
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