An additional 3.8% tax on net investment income may impact your next tax bill. It went into effect in 2013 and applies when adjusted gross income is over $250,000 for married couples and over $200,000 for single people (trusts and estates are also affected). Net investment income includes interest, dividends, capital gains and rental and royalty income, among other items.
Don’t get caught off-guard. There is still time to develop a strategy to minimize this and other taxes for 2014.
Our tax professionals here at BKMSH can assist you in aligning techniques with strategies for dealing with any issues you may have. Call us today at 214-545-3965 or email [email protected] for detailed guidance.