More Hidden Taxes Funding ObamaCare - My9 New Jersey:"The new earned income tax to help fund Obamacare is 0.9%.
"Earned income is compensation from participation in a business, including wages, salary, tips, commissions and bonuses," Studnick explained.
This tax will be placed on any income earned over $200K for those who are single and any income earned over $250K for those who are married and filing jointly.
The new unearned income tax is more complicated. "The simple definition of unearned income is income derived from sources other than employment such as interest and dividends from investments, or income from rental property," Studnick said.
Your modified adjusted income over $200K if you’re single and over $250K if you’re married and filing jointly, will be compared to your unearned income.
The lesser of the two will be taxed at 3.8%."
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