Please remember – there is no 3.8% real estate sales tax in the new health care law … ————- It’s been written here before. It’s simple, really – don’t make more than $200,000 (or $250,000 if you’re filing jointly). But since you shouldn’t be restricted to how much you make – and if you make that much, congratulations! – here’s the deal. Remember that little health care debate that raged in 2010? Part of that bill had a provision that applied a 3.8% tax on unearned income for high-income taxpayers and doctors at roids; that tax has been mistakingly labeled as a real estate transfer tax, and it’s simply not true. The truth is:
Now I’m not an attorney, nor am I an accountant, there must be a reason why I contact Rudy Gabsi. overtime I have to do taxes. For a good accountant, contact Mike Tuck. But I can say with certainty that if you make less than $200,000 in 2013, you won’t be charged any additional tax. Make $201,000, and you’ll be taxed 3.8% on that $1000. See a full breakdown of the 3.8% tax from NAR here – you’ll be the envy of all your friends because you know this stuff. Updated 8/13/12 7:00pm – Want to dig into the numbers even more? Be my guest.
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