HI and Medicare contribution taxMedicare/Medicaid, National Health Care Reform Legislation, tax changes, Uncategorized — By Online Editor on July 6, 2010 at 7:16 AM
Beginning in 2013, additional 0.9 percentage Medicare Hospital Insurance tax (HI tax) on self-employed individuals and employees with respect to earnings and wages received during the year above $200,000 for individuals and above $250,000 for joint filers (not indexed). Does not change employer HI tax obligations. Self-employed individuals are not permitted to deduct any portion of the additional tax. In addition, there will be a new 3.8% Medicare contribution tax on certain unearned income from individuals with AGI over $200,000 ($250,000 for joint filers).