Out of curiosity, how many of these new taxes will
take money out of your pocket?
7 changes to tax form 1040
http://www.marketwatch.com/story/7-changes-to-tax-form-1040-2014-01-07?siteid=yhoof2
What you need to know about your 2013 return
New higher tax rates for upper-income individuals
For most individuals, the 2013 federal income tax rates are the same as for 2012: 10%, 15%, 25%, 28%, 33%, and 35%. However, the American Taxpayer Relief Act (ATRA) increased the maximum rate for 2013 to 39.6%. That rate only affects singles with taxable income above $400,000, married joint-filing couples with income above $450,000, and heads of households with income above $425,000.
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New 3.8% Medicare surtax on investment income collected by upper-income individuals
. . .
New 0.9% Medicare surtax on salaries and self-employment income earned by upper-income individuals
. . .
New personal and dependent exemption deduction phase-out rule for upper-income individuals
. . .
(Full details from the article at the link. Zim.)
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