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Health Care Tax Information

I have received numerous inquiries from both friends and clients concerned about what they have heard regarding the “property tax of 3.8% in the Health Care bill.” I have attached the brochure (in PDF) as published by the National Association of Realtors. Please contact me for any additional questions you might have on this topic

Read The Brochure:
government_affairs_invest_inc_tax_broch

The health care legislation to go into effect in January 2013 includes a new levy on certain income investment. There are questions and conversation about the tax application to home sales. The 3.8% tax is imposed ONLY on those with more than $200,000 of Adjusted Gross Income (AGI) ($250,000 on a joint return). The tax applies to investment income, defined as interest, dividends, capital gains and net rents. These items are all included in an individual’s AGI. A formula will determine what portion, if any, of these types of investment income would be subject to the tax.