Tag Archive: New Medicare Taxes for 2013

New Medicare Taxes Taking Effect in 2013

Written by February 11, 2013

The 2010 health care reform legislation included several provisions that go into effect this year. Among them is the increase in Medicare taxes for taxpayers with incomes above certain levels. Here is an overview of these two new taxes. FI…RST, the payroll Medicare tax will increase from 1.45% of wages to 2.35% on amounts above $200,000 earned by individuals and...