The additional 0.9 percent Medicare tax on wages above $200,000 for individuals
($250,000 married filing jointly), which went into effect in 2013, remains in
effect for 2017, as does the Medicare tax of 3.8 percent on investment
(unearned) income for single taxpayers with modified adjusted gross income
(AGI) more than $200,000 ($250,000 joint filers). Investment income includes
dividends, interest, rents, royalties, gains from the disposition of property,
and certain passive activity income. Estates, trusts, and self-employed
individuals are all liable for the new tax.
If you would like to schedule a Free Initial Consultation to
learn more about the tax preparation and tax planning & compliance services
we offer to businesses and individuals, send us an e-mail or call Amare Berhie
today at 651-300-4777 to schedule a convenient time.
Amare Berhie, Senior Accountant
CEO, ABA Tax Accounting
651-300-4777
We are
licensed in All States. We are affordable, experienced, and friendly. We are an
Authorized IRS e-file Service Provider.
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