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Friday, April 11, 2014

Paying Obamacare's 3.8% Investment Tax? Like Your Investments, Keep Your Investment

Paying Obamacare's 3.8% Investment Tax? Like Your Investments, Keep Your Investment

Whether it made your health insurance better or worse, whether more costly or less, Obamacare costs. And as you settle down to finish your 2013 taxes, you may feel it and not in a good way. The tax actually started on January 1, 2013 as a direct new tax that was explicitly intended to help fund the now not-so-new Affordable Care Act.
Meet the 3.8% Net Investment Income Tax. It’s and add-on to other taxes you pay, so don’t start thinking what a great low tax rate this is. As one example, depending on your income, your long-term capital gain might be taxed at 20%.http://www.forbes.com/sites/robertwood/2014/04/10/paying-obamacares-3-8-investment-tax-if-you-like-your-investments-keep-your-investments/

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