Tuesday, July 17, 2012

SELL YOUR HOUSE IN 2013 AND PAY THE 3.8% OBAMACARE TAX

ObamaCare Flatlines: Taxes Home Sales – Clobbers Middle-Class Americans http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home
GOP.Gov Blog – 4/8/2010

Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.

This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for ObamaCare. The National Association of Realtors called this new Medicare tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation.

Northwoods Patriots - Standing up for Faith, Family, Country - northwoodspatriotscomm@gmail.com

1 comment:

  1. hey nice blog thanks for sharing the information about how to sell house .
    sell my property

    ReplyDelete