Lunch and Learn 11.15.13

Topic:  Tax Law Changes 2013  How they're going to affect YOU! 
Facilitator:  Kathryn Lyle, CPA  

Provisions of The Patient Protection and Affordable Care Act that may increase your tax liability in 2013 include:

A new Medicare Hospital Insurance (HI) tax of .9% applied to high income individual taxpayers. The tax is 0.9 percent of earned income in excess of $200,000 for single and head of household filers and $250,000 for married filing joint returns.

A Net Investment Income (NII) tax at the rate of 3.8 percent applied to the lesser of net investment income or modified adjusted gross income in excess of $200,000 for single and head of household filers and $250,000 for married filing joint returns. Net investment income includes interest, dividends, capital gains, non-qualified annuities, rental and royalty income and others.

See more at: http://www.lylecpa.com/#sthash.ZRPOO4bk.dpuf