The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: WSJ: Taxes in 2013||Date: 11/30/2013 4:21 PM|
|Author: intercst||Number: 73858 of 81340|
They omitted the Medicare penalties paid by retirees for excess income. Over 85K single or 170k married it is $42/mo Medicare and $11.60 Pt D for a total of 0.8% single. Above 107k single or 214k married, it rises to 1.5 to 1.67% single.
There's also an Obamacare "tax" on Singles earning less than $45,960/yr and Couples under $62,040. For every dollar earned up to those limits, you lose 8% to 9.5% in tax subsidies for health insurance. Above those limits, the subsidies disappear completely -- meaning that last dollar in income would cost you thousands in extra taxes.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|