2013 Tax Rates | Southern Minnesota

ARE YOU AWARE OF HOW THE NEW TAX RATES ARE GOING TO AFFECT YOU?

Tax Table 2013 What are your taxes going to look like in 2013?  If you earn more than $200,000 your taxes will go up substantial with the new taxes that Obama added this year.

Additional Medicare Surcharge of 3.8%  on UNEARNED INCOMEApplies if MAGI exceeds $200,000 for unmarried taxpayers and $250,000 for married taxpayers filing a joint return.

Plus, Additional .9% Medicare Tax on EARNED INCOME — is added to earned income (wages and self-employment income) in excess of the same thresholds listed above $200,000 S & $250,000 MFJ.

Self-employed taxpayers — will need to consider the extra tax above in making their Estimated Tax.  However, this extra Tax DOES NOT qualify for the above the line deduction for 1/2 of the SE Tax.

 Let Sandy Wenker  help walk you through all the changes, she has over 12 years experience as a Certified Public Accountant.

For Help with your taxes contact Sandy Wenker at 507-333-3973 or use our convenient online form and have Sandy contact you.  It’s nice to have someone on your side, call me.