OfflineI have been reading the Obamacare health legislation and comments about it from different high powered group and have come across a nugget of information that my be true:
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income.
I am trying to research this to find the exact passage of this legislative particular and will report if I find something.
I have to think that it won't apply to SFH that are owner occupied but it will probably be something that will attack investors.
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Always Looking to Acquire Houses | Always Looking to Amaze Investors
I think you are correct Bill. that was one of those hidden things that they tried to snake in there but I think that's also one of the things they are trying to change. I just started reading some of the news clips on that and haven't gone that far into it yet. Thanks for the heads up
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Then people will be even more against realtors LOL. thats like having two seller agents. double ouch
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
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the real group of people you should be "mad as hell" about are our elected representatives who no longer care about the middle class. All I can tell you is you better start learning how to translate your documents into Chinese, because that is where the real action is going to be soon if things don't change.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
that can amount to quite a bit of money!!!
I hope it's not true-I will do some research on this too... not good...
thanks for keeping us informed Bill,
Valerie
Valerie
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Another end run sweep by our elected officials. How much more can the working person take? This is begining to frost my knickers....Jan
shi shi, Bill. I think that means thank you in Chinese. I'm not sure. I better start saving my fortune cookie inserts and learning the lingo.
peace,
Dana w/ Crossroads Solutions LLC
http://www.DanaLeigh209.com
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I am direct to the VP of a $100 million dollar open-ended debt and equity fund which actively writes checks to fund businesses with an EBITDA of at least $1 million a year. We fund also have access to up to $500,000,000 for the purchase of distressed real estate, specially commercial $7,500,000 and up.
most middle class don't own multiple properties and those that do own, the 3.8% can be eaten up by deductions and such.
Personally, I make a very good living and I have no problem paying a little more taxes if it saves someone or someones who make considerably less from paying it.
Not in any way a 'Socialist' nor am I abdicating income redistribution, but we've got a serious deficit here and why stomp on the poor and middle class when those who make considerably more save most of their money through tax breaks as it is???
Owning property allows sooooooooooooooooooooooooooooo many tax deductions and breaks, I doubt anyone will even notice that 3.8% difference in the bigger scheme of things.
I cannot wait to be able to say I make a very good living. And, when I am able to, I expect my tax folk to use every reward that is offered to RE investors while I gladly pay my full and fair share to make America (and my fellow Americans) even better and stronger than we are right now. : 0
[Cue the music. Alert the media. I gotta run for office on a speech like that. ;)]
Seriously, though. Well said, sir. peace,
Dana w/ Crossroads Solutions LLC
http://www.DanaLeigh209.com
http://www.DanaLeigh209.net
http://www.ULostThis.com
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I am direct to the VP of a $100 million dollar open-ended debt and equity fund which actively writes checks to fund businesses with an EBITDA of at least $1 million a year. We fund also have access to up to $500,000,000 for the purchase of distressed real estate, specially commercial $7,500,000 and up.
from your paycheck
Here in NYC, employers generally give pre-tax offers for metrocards here which save the consumer on their yearly transportation costs
This is similar to that and really shouldn't be much of an issue unless you want it to be one.
Thanks for the kind words
How long will it take for china to hand us the foreclosure notice. Just trying to be funny but the issue sounds possible!
Dare yourself to fail!
They already did what do you think happened to all the banks.
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