New Hidden Taxes Target The Rich

Posted By on November 14, 2013

We’ve been saying that the rich are going to make themselves into colorful targets for new hybrid taxes, click here to read about it, (I’m Smarter, That’s Why I’m Richer Than You…), so here we go….they’re just getting started with the hidden tax trickery!

Luxury real estate broker Ron Aioso says there is a tax that is rarely discussed that also helps fund Obamacare. It is a tax on high-income taxpayers when they sell their homes.

Franklin Lakes, N.J. was listed on Forbes.com in 2010 as one of “America’s Most Expensive ZIP Codes”, with a median home price of $1.3M.

Aioso says homeowners in a neighborhood like this could really be impacted by the Obamacare tax.

“Where we are today in a luxury area, you look and you see this home behind me, somebody like this is really affected,” he said.

If you are single with an adjusted gross income of $200,000 or file jointly with an income of $250,000 or more, you may be impacted. Once you sell your home, any profits over the first $500,000 are already subject to a capital gains tax. And now those profits will have an additional 3.8% tax to fund Obamacare.

Aioso noted that there is also a lot of confusion surrounding this tax and many homeowners know little about it.

“I think more than anything we need some education on it so people fully understand what is this 3.8%? What am I paying?” Aioso said.

Sources: Wise Dog Research, My9NJ.com

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One Response to “New Hidden Taxes Target The Rich”

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