Thursday, November 08, 2012
New Tax Impacting Real Estate Income
As part of the Healthcare Reform, a new tax will be in effect January 1, 2013. This is new tax will impact individuals with an adjusted gross income over $200,000 for single and $250,000 for couples. This is 3.8% tax on unearned income. Net rental amounts and capital gains are two examples that this tax may be applicable. To learn more about the computation of 3.8% tax watch this video. For frequently asked questions and more information on this 3.8% investment tax.