If you are above a certain income threshold, you may be subject to an additional Medicare surtax. Under The Affordable Care Act, the Medicare surtax requires an additional 3.8% tax on investment income for those above the threshold. Income from taxable interest, dividends, capital gains, and rental property income are all subject to the tax. For those still earning wages or self-employment income, there might also be an additional Medicare tax to consider.
Click below to get a 5-step checklist regarding your income and health care taxes.
Are you interested in learning strategies to reduce or potentially eliminate these healthcare taxes? RFG Wealth advisors are here to help! Give Chris Robinson a call at 940-464-4104 or email him at Chris@RFGWealthMgt.com to schedule a time to discuss your needs.
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