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Affordable Care Act – 2014
Posted by aapr2746 on January 1, 2014 in Uncategorized | ∞
Starting in 2014 all individuals must be inured and have insurance for their dependents. If the individual fails to meet the coverage requirement for themselves, a spouse or dependents for one or more months, that taxpayer must make a shared responsibility payment in the form of a penalty. Exceptions to the penalty: Members […]
Affordable Care Act 2013
Posted by aapr2746 on January 1, 2014 in Uncategorized | ∞
Net Investment Income Tax (NIIT) Starting in 2013 a 3.8% Medicare tax is applied against net investment income (NII) of individuals, estates and trusts. The NIIT also referred to as the unearned income Medicare contribution tax is 3.8% of the lesser of: Net investment income for the year. The excess of modified adjusted gross income […]
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