As the “health care bill” now stands, a 3.8% Medicare Surtax will come into play in 2013, if no change is made. This MEDICARE SURTAX is on UNEARNED INCOME for taxpayers with MODIFIED ADJUSTED GROSS INCOME (MAGI) in excess of $200,000 for single and $250,000 for married. The tax is imposed on the smaller of the filer’s net INVESTMENT INCOME or the excess of MAGI over the thresholds. For more information as to how it will affect you, please contact us for an appointment.
