[san4596]

Anyone notice that the year Obama pushes the federal gov’t to recognize same sex marriage by filing MFJ/MFS returns for those married in a state within the US is when marriage penalties hit due to Obamacare? Specifically, the additional Medicare tax of 0.9% on MFJ income above $250K, whereas the 0.9% additional tax for a single filer applies to income above $200K.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[Gatorbates]

Did not realize that, but great observation. Another subtle tax on the rich, that's buried behind all this gov't bureaucracy. Net effect on this one though, probably won't cause much hub bub, since it only really affects those making bank …

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[Gatorbates]

Did not realize that, but great observation. Another subtle tax on the rich, that's buried behind all this gov't bureaucracy. Net effect on this one though, probably won't cause much hub bub, since it only really affects those making bank …

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[mla1169]

But if they're legally married they SHOULD take the same hit any other married couple would. Equal means equal even when it sucks.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

But if they're legally married they SHOULD take the same hit any other married couple would. Equal means equal even when it sucks.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Gatorbates]

Watch your puns mla 😉

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[Gatorbates]

Watch your puns mla 😉

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[san4596]

There are a few more marraige penalties:

Phase out of Personal & Dependency Exemptions:

$300K MFJ/$250K Single

Limitation on Itemized Deductions:

$300K MFJ/$250K Single

3.8% Medicare tax on Unearned income

AGI avbove $250K MFJ/$200K Single

39.6% Marginal Tax Rate on income above

$450K MFJ/$400K Single

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[san4596]

There are a few more marraige penalties:

Phase out of Personal & Dependency Exemptions:

$300K MFJ/$250K Single

Limitation on Itemized Deductions:

$300K MFJ/$250K Single

3.8% Medicare tax on Unearned income

AGI avbove $250K MFJ/$200K Single

39.6% Marginal Tax Rate on income above

$450K MFJ/$400K Single

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[teeteenounouche]

Lord help me I pray I passed REG…

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

Lord help me I pray I passed REG…

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[tough_kitty]

san4596: Didn't you know? Taxes and politics are collerated….

Per Roger CPA Review – congressmen own 2 residences, hence the tax break for 2 houses…. while there is no tax deduction on vehicles because they have cars provided to them free of charge…….

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[tough_kitty]

san4596: Didn't you know? Taxes and politics are collerated….

Per Roger CPA Review – congressmen own 2 residences, hence the tax break for 2 houses…. while there is no tax deduction on vehicles because they have cars provided to them free of charge…….

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[san4596]

Kitty – I know many people who are not wealthy that have a beach cabin or lake house along with their permanent residence. Still, you are probably right that it was because Congressmen think more for themselves than us. You did make an incorrect statement regarding a tax deduction on vehicles. In the year of purchase, you can deduct the vehicle sales taxes on top of your standard sales tax deduction if you itemize.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[san4596]

Kitty – I know many people who are not wealthy that have a beach cabin or lake house along with their permanent residence. Still, you are probably right that it was because Congressmen think more for themselves than us. You did make an incorrect statement regarding a tax deduction on vehicles. In the year of purchase, you can deduct the vehicle sales taxes on top of your standard sales tax deduction if you itemize.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[tough_kitty]

Well, that's a very small amount and it's only IF you itemize….which most people don't do if they don't own a house…. To be honest, I forgot the way Roger said it but it was something to do with cars….

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[Author]

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