HI All,
Here are some tax increases than will in effect your tax returns for this coming tax filing season starting in January 2015 for 2014 taxes.
Subject: DO YOU KNOW WHAT HAPPENED TO YOU 7-1-14
Here is what happened on July 1st, 2014:
Remember this on November 4th!!
Frank
Here are some tax increases than will in effect your tax returns for this coming tax filing season starting in January 2015 for 2014 taxes.
Subject: DO YOU KNOW WHAT HAPPENED TO YOU 7-1-14
Here is what happened on July 1st, 2014:
- Top Income Tax bracket went from 35% to 39.6% Yes… additional medicare tax (.9%) and Net Investment income tax (3.8%) if applicable
- Top Income Payroll Tax went from 37.4% to 52.2% not sure where this comes from…. FICA is still 7.65 and medicare tax is 2.8
- Capital Gains Tax went from 15% to 28% highest rate on collectibles is 28%. Highest rate for individuals is generally 20%
- Dividend Tax went from 15% to 39.6% Correct
- Estate Tax went from 0% to 55% Correct
- These taxes were all passed under the Affordable Care Act, otherwise known as ObamaCare.
- All these taxes were passed with only Democrat votes.
- Not one Republican voted for these taxes!
Remember this on November 4th!!
Frank