By Michael Gracik, Jr., CPA, Director
Posted: Sunday, April 14, 2013 12:30 am | Updated: 11:55 pm, Sun Apr 14, 2013.
BY CAROL HAZARD | Richmond Times-Dispatch
New tax on investments to help pay for health care changes
The scramble is on to file income tax returns and meet Monday’s deadline.
Meanwhile, a little-known tax went into effect Jan. 1 and it will affect income tax returns filed next year. It’s called the net investment income tax.
It’s a 3.8 percent surtax on investment income of individuals, estates and trusts.
It affects single people with gross incomes of more than $200,000 or married couples filing jointly with gross incomes of more than $250,000. Read more
About the Author
Michael Gracik, Jr., CPA, Director
Mike works closely with his clients to identify tax planning and savings opportunities specific to their business and industry. His clients include closely-held businesses in the real estate, home building, manufacturing, construction, retail and wholesale industries. He also serves many estates, trusts and foundations. Read more of Mike’s insights on our blog.
More Insights from Michael Gracik, Jr.The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
