by Ryan Burke, CPA, MSF | Sep 7, 2022 | Uncategorized
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you. 3.8% NIIT This tax applies, in addition to...
by Hare CPAs Tax Team | Oct 12, 2021 | Tax
The House Ways and Means Committee is working on a $3.5 trillion spending and tax package the Democrats are hoping to pass through the budget and reconciliation process, which would not require support from the Republicans. Many of the new tax legislation provisions...
by Ryan Burke, CPA, MSF | Sep 17, 2021 | Tax
Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was $411,200 in the Northeast,...
by Brian Hare, CPA, CGMA | Jun 2, 2021 | Tax
High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some steps you may be able to take to reduce its impact. The NIIT applies to you only if modified adjusted gross income (MAGI)...
