Let"t talk about tax's.Better yet about the new ones that will be coming into effect starting in 2013.I know Obama saying basely he is not going to put new tax's on the table. An Obama not they are old tax's in a way just not taking effect till 2013 and beyond . Many of you my be asking what tax's Rockwell . well here is a list
Listed in chronological order of date they will take effect:
•
Increasing the hospital insurance portion of the payroll tax from 2.9
percent to 3.8 percent for couples earning more than $250,000 a year, or
$200,000 for single filers. Takes effect Jan. 1, 2013.
•
Applying the 3.8 percent hospital insurance tax to investment income for
couples earning more than $250,000 a year, or $200,000 for single
filers, for the first time. Takes effect Jan. 1, 2013.
• A 2.3
percent excise tax on manufacturers and importers of certain medical
devices. This is a narrowly targeted tax, but still a tax (and will
likely be reflected in consumer prices once it begins). Takes effect
Jan. 1, 2013.
• Raise the 7.5 percent adjusted gross income
floor for the medical expenses deduction to 10 percent. People who would
have qualified for the deduction this year would pay more. Takes effect
Jan. 1, 2013.
• Annual fee levied on health insurance
providers, based on each company’s share of the total market. Same logic
as the levy on branded drug companies cited above. Takes effect Jan. 1,
2013.
• Limiting the amount taxpayers can deposit in flexible
spending accounts to $2,500 a year. While the Obama camp says this
provision is intended in part to stop abuse of the system, our experts
consider it a tax because it increases taxable income. Takes effect Jan.
1, 2013
• Eliminating the corporate deduction for
prescription expenses for retirees. According to the Society for Human
Resource Management, certain employers were not only "qualified to
receive a subsidy equal to 28 percent of covered prescription drug costs
for their retirees," but the employer also was entitled to an income
tax deduction for the subsidy. The idea behind providing both a subsidy
and a tax deduction was to reduce taxpayer costs for the Medicare drug
plan by encouraging companies pay their retirees’ costs, but the way it
was structured was criticized by some as double-dipping. No matter the
justification, our experts agreed it was still a tax hike. It takes
effect Jan. 1, 2013.
• Increasing taxes on health insurance
companies by limiting the amount of compensation paid to certain
employees that they can deduct from their taxes. According to Congress’
Joint Committee on Taxation, this will be effective for compensation
paid in taxable years "beginning after 2012, with respect to services
performed after 2009." Once again, this is narrowly targeted at health
care company executives -- not a popular group -- but it’s still a tax.
•
A 40 percent excise tax on employer-provided "Cadillac" health
insurance plans costing more than $10,200 for individuals and $27,500
for families. Takes effect Jan. 1, 2018.
Nice little list So went you go to the polls come November remember this little list feel free to bookmark it
