They would be hit if they exceeded the 250k for single or 500K for joint.
Can anyone confirm this? House tax
- Thread starter captain
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Obamacare = Two new taxes: The 3.8% on investment income and the .9% on earned income (wages and self employment income). All earned income in excess of 200K for a single filer or 250K combined for joint filers will be subject to this tax. This will likely result in significant underpayment of taxes (ie reduced refunds or tax due) since employers will only with hold this tax on individual wages in excess of 200K. If both spouses earn 190K there will be no additional with holding but 130K will be subject to the tax on tax day.
In addition the penalty for not having medical insurance starts in 2014 and by 2016 ratchets up to over 2K / year per individual. Wake up people the tax man is collecting!
In addition the penalty for not having medical insurance starts in 2014 and by 2016 ratchets up to over 2K / year per individual. Wake up people the tax man is collecting!
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