New Investment Tax Starting in 2013

With the Supreme Court’s ruling that the Patient Protection and Affordable Care Act (PPACA) is Constitutional, we will now probably have daily updates on some of the new laws that this massive bill has implemented.  One of these is the new investment tax starting in 2013.

“The new tax, which Congress passed in 2010, affects the net investment income of most joint filers with adjusted gross income of more than $250,000 ($200,000 for single filers). Starting on Jan. 1, 2013, the tax rates on long-term capital gains and dividends for these earners will jump from their current historic low of 15% to 18.8%, assuming Congress extends the current law.”

Please click the link below for the whole article:

http://www.smartmoney.com/taxes/income/prepare-for-the-new-investment-tax-1341248241206/

Remember what our good Congresswoman from California said – “We must first pass the bill before we can see what’s in the bill!”

So, PPACA, the gift that keeps on giving!