The Bottom Line of the Amended Taxpayer Relief Act

In the wee hours of New Year’s Day 2013, the Senate passed by bipartisan vote an amended version of the American Taxpayer Relief Act of 2012. How will that translate to your tax return? Marginal Rates: For taxpayers earning less than $400,000 (single) or $450,000 (joint filers), income tax rates remain unchanged. Above these thresholds, […]

The 3.8% Tax Is Not a Real Estate Transfer Tax

By Robert Freedman, Senior Editor, REALTOR® Magazine National Association of REALTORS® Shortly after the federal government enacted sweeping healthcare reform earlier this year, there was considerable concern over a last-minute addition to the legislation: a 3.8 percent tax on investment income of upper-income households to help shore up Medicare. The tax takes effect in 2013. Among […]