Higher income individuals will be subject to an additional 0.9 percent Medicare tax effective January 1, 2013.  The additional Medicare tax will affect  single filers with wages in excess of $200,000, married couples filing a joint return with wages in excess of $250,000 and wages in excess of $125,000 for married filing separately.  This means that the portion of wages in excess of these amounts will be subject to a 2.35 percent Medicare tax.

The additional Medicare tax also affects self employed individuals.

This tax is imposed on the combined wages of those filing married filing jointly.  Thus these taxpayers may want to determine if filing separate returns will result in a lower tax liability.

Due to coronavirus health and safety concerns, we have suspended all in person meetings.

We are asking that you use our secure portal, conventional mail or the dropbox in front of our office for the exchange of documents.

The tax deadline for filing and payments has been extended to July 15, 2020.

The IRS put out this Q&A regarding the change in due date from April 15th to July 15th. This is a really helpful read that addresses many of the questions we’ve received. Click here to read >