The "American Taxpayer Relief Act" RAISES Taxes... there is no tax relief in it.
Here are five examples that impact higher income taxpayers...
"The American Taxpayer Relief Act of 2012, also known as the fiscal cliff tax bill, raised tax rates on wealthy individuals' ordinary and investment income. That legislation also reduced some ways that richer taxpayers can lower their now higher taxes.
Two Affordable Care Act provisions aimed at wealthier individuals also took effect in 2013."
1) 39.6 percent top tax rate
2) 20 percent capital gains tax rate
3) 0.9 percent added payroll tax
4) 3.8 percent net investment income tax
5) Reduced deductions, exemptions
http://finance.yahoo.com/news/5-higher-taxes-for-wealthy-taxpayers-193129708.html
Here are five examples that impact higher income taxpayers...
"The American Taxpayer Relief Act of 2012, also known as the fiscal cliff tax bill, raised tax rates on wealthy individuals' ordinary and investment income. That legislation also reduced some ways that richer taxpayers can lower their now higher taxes.
Two Affordable Care Act provisions aimed at wealthier individuals also took effect in 2013."
1) 39.6 percent top tax rate
2) 20 percent capital gains tax rate
3) 0.9 percent added payroll tax
4) 3.8 percent net investment income tax
5) Reduced deductions, exemptions
http://finance.yahoo.com/news/5-higher-taxes-for-wealthy-taxpayers-193129708.html
