3.8% Net Investment Tax - Starting in 2013 individuals are subject to a new tax. This tax is equal to 3.8% of the lesser of:
(1) Net Investment income or (2) the excess (if any) of modified adjusted gross income over the threshold amount. This new tax
is imposed when your Modified Adjusted Income exceeds:
Married Filing Joint, Qualifying Widow(er) $ 250,000
Single, Head
of Household
$ 200,000
Married Filing Separately
$ 125,000
If you have foreign earned income exclusion this adds to your Modified Adjusted Income
Additional .9% Medicare
Tax - ages and Self-Employment Income are subject to an additional .9% to the extent that they exceed the following thresholds:
Married
Filing Joint, Qualifying Widow(er) $ 250,000
Single, Head of Household
$ 200,000
Married Filing Separately
$ 125,000
Same-Sex Marriages - Effective 9/16/2013 individuals in a same-sex marriage will be treated as married for all federal
tax purposes, including income, gift and estate taxes. Same-sex marriages will be treated as married in any jurisdiction as long as
they were legally married in a jurisdiction.
39.6% remains the top ordinary income tax rate for earners over
$415,050(single), $441,000(Head of Household), $466,950(married filing joint) and $233,475(married filing single).
Schedule
A limitation for medical remains at 7.5% if age 65 and over - 10% under age 65
Estate and Gift Tax - for individuals passing
and subject to estate tax or gifts made starting in 2014 the tax rate will be 40%
