Tax Developments


  • Individuals are subject to an Additional Medicare Tax on Earned Wages plus Self-Employment equal to 0.9% when wages exceed stated threshold amounts.
Married filing Jointly $250,000
Married filing Separate $125,000
Single, Head of Household, Qualifying Widow(er) $200,000
  • Individuals are subject to a Net Investment Income Tax equal to 3.8% of the lesser of Net Investment Income or the excess of Modified Adjusted Gross Income when the same threshold amounts (above) are exceeded.
  • Same sex marriages are now recognized by the Federal Government. A couple's marriage is recognized as long as the marriage ceremony has taken place in a state that recognizes such unions. It is NOT required that the couple live in a state that recognizes thier marriage in order to receive Federal Tax benefits.