Tag Archive: "medicare surtax"
One of our readers asked the following question: “Could you possibly give some examples on this new Medicare surtax might be calculated? Thank you.” The new Medicare surtax applies on the lessor of: Net investment income, or The amount of adjusted gross income in excess of $250,000 ($200,000 single) Investment income comprises primarily interest, dividends, annuities, […]
As part Obama-Care put into effect in 2010 is a provision to increase the employee portion of the Medicare tax from the current 1.45% by .9% to a total rate of 2.35%. This new rate only applies on the amount of earned income in excess of $200,000 for single taxpayers and $250,000 for married couples […]