Home › Posts tagged Medicare Tax
Blog Archives

3 Proven Reasons a Connecticut Business Owner Should Elect Subchapter S

Posted in Tax News on September 29, 2013

    Business owners of corporations will by default have a “C” Corporation.  If they are eligible and they elect, they could be a Subchapter S (“Sub S”) corporation.       An eligible Sub S corporation meets the following…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , ,

A Summary of the American Taxpayer Relief Act of 2012

Posted in Tax News on January 13, 2013

  The Federal Government avoided the Fiscal Cliff…Well, for now any way.   At the very last minute they passed the American Taxpayer Relief Act of 2012.  Here are some of the highlights:    Income, Capital Gains and Qualifying Dividends…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , , , , ,

3 Reasons You Likely Won’t Pay Income Taxes When You Sell Your Home

Posted in Tax News on July 10, 2012

1) You Don’t Have a Capital Gain   Due to the housing market, many homeowners no longer have a gain in their home. A gain is the sales price minus the cost basis. The cost basis is generally the purchase…

Read more

Tagged with: , , , , , , , , , , , , , ,

3 Reasons to Recognize Capital Gains in 2012

Posted in Tax News on July 3, 2012

1) The Long-Term Capital Gains Rate is Going Up Long-term capital gains are for capital assets held longer than a year. Capital assets include stocks, bonds and mutual funds. Collectibles and certain Real Estate are subject to special rules.  The…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , , ,

Why The New Medicare Tax May Cost You More Money

Posted in Tax News on June 26, 2012

Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,