Here is a little truth about a Medicare surtax that will effect all major investors and those in the middle class who sell their homes and/or own retirement capital.
“While no one is taxing our bank holdings, thanks to
Obamacare, they are going after our other assets. Remember that 3.8% Medicare
surtax on investment sales larger than a couple hundred grand. Surprised? Next
time you try to sell your house, trust me, you’ll be hitting the roof. A tax on
your home… your tangible assets. Is there really a difference? No.”
Cavuto is right. Your
home sale in most cases, will merit a
3.8 percent tax beginning in 2014. Of
course that tax will increase with successive years, as do all taxes, especially those dreamed up by the Democrat
Socialists, and this is all their
idea.
But more than home sales,
your taxable assets will include:
- Interest on retirement incomes,
- Stock dividends,
- Royalties, annuities,
- Rents
- Income derived from passive activities (rent and monies earned from limited partnerships).
- Trading financial instruments and commodities where profit is an issue.
- Net capital gains derived from the disposition of property (other than property held in an active trade or business)
A larger article on this matter can be found at WealthManagementInsights.com
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