Tweet
Thanks Obama for the INCREASED TAXES you POS!!!!
Because Liberals and Socialists like Obama feel that we should coddle the indigent, the welfare scammers and the lazy azzes, well some of you get what you deserve and I hope it hurts you financially since you supported the GD POTUS and voted to re-elect the POS socialist.
Here's a few of the Tax Changes-Thank you very much you worthless Obama supporters-choke on them-you farging deserve to:
Items affecting 2012 tax returns:
1. The Code Section 179 deduction for 2012 has been reduced to $139,000 with an investment
ceiling of $560,000 from $500,000 and a $2 million investment ceiling. In 2013 it will be reduced
even further to $25,000 with a $200,000 investment ceiling.
2. Absent another Alternative Minimum Tax (AMT) patch, the exemption amounts for 2012 will
revert to the lower amounts of $33,750 for unmarried taxpayers, $45,000 for joint filers and
$22,500 for married filing separately filers. Currently they are $48,450 for unmarried taxpayers,
$74,450 for joint filers and $37,225 for married filing separately filers.
3. The $250 Teacher’s Classroom Expense deduction expired last year.
4. The State and Local Sales Tax Deduction expired last year.
5. The mortgage insurance premiums (PMI) deducted as interest expense expired last year..
6. The Tuition and Fees deduction is not available for 2012 unless extended.
7. The research tax credit expired after 2011 and is no longer available for 2012 and beyond.
Items Affecting 2013 tax returns and beyond:
1. The reduced income tax rates of 10, 15, 25, 28, 33, and 35 percent will be replaced with 15, 28,
31, 36 and 39.6 percent levels after 2012.
2. After 2012, the capital gains tax rates will increase from zero, for the 10 and 15 percent brackets
and 15 percent for all other taxpayers, to 10 percent for the 15 percent bracket and 20 percent
for all others. There will be no more qualified dividends taxed at 15% all dividends will be taxed
at the ordinary income tax rates.
3. In 2013 there will be a new 3.8% Medicare Contribution Tax on higher income individuals and
will apply to the “net investment income”. This will generally apply to passive income and the
capital gain from the disposition of property. It will not apply to income or the sale of property
from a trade or business. The thresholds are $250,000 for Married Filing Jointly, $125,000 for
Married Filing Separately, and $200,000 for Singles.
4. Effective January 1, 2013 there is also an additional .9% Medicare tax on wages in excess of
$200,000 for unmarried taxpayers, $250,000 for married couples filing jointly, and $125,000 for
married couples filing separately. This will be done through withholding but it will also apply to
self-employed individuals as well.
5. The payroll tax holiday we have been enjoying for the past two years will end December 31,
2012. This was the 2% rate reduction in FICA taxes on the employee’s portion.
6. The personal exemption and itemized deduction phaseouts are scheduled to return in 2013.
They had been repealed through 2012.
7. The enhanced Student Loan Interest Deduction is scheduled to expire after 2012 and will return
to the old rules & thresholds.
8. In 2012, qualified medical expenses need to exceed 7.5% of Adjusted Gross Income. For 2013
and beyond they will need to exceed 10% of AGI.
9. The current Estate & Gift Tax rate that is in effect though 2012 is set at 35% and the exemption
amount is $5.12 million. After 2012 the rate will be 55% with an exemption amount of $1
million unless extended.
This is not a complete listing of the expired provisions. It is also important to note that Congress could extend many of these provisions making them no longer applicable. We will have to wait and see what Congress does.
ONE THING IS FOR CERTAIN, RAISING TAXES AND INCREASING GOVERNMENT SPENDING WHICH IS EXACTLY WHAT THE BASTERD OBAMA IS PROPOSING WILL CERTAINLY CAUSE AN ECONOMIC DEPRESSION-THANKS YOU OBAMA JERKS FOR ELECTING A COMPLETE AND TOTAL MORON THAT HAS NEVER WORKED IN THE PRIVATE SECTOR AND HAS ALWAYS BEEN A LEECH SUCKING THE TAXPAYERS' BLOOD TO SURVIVE. AS DAN AKROYD SO APTLY SAID TO JANE: "YOU IGNORANT SLUT"-YOU OBAMA SUPPORTERS ARE JANE, OF COURSE AND GET WHAT YOU DESERVE.
Here's a few of the Tax Changes-Thank you very much you worthless Obama supporters-choke on them-you farging deserve to:
Items affecting 2012 tax returns:
1. The Code Section 179 deduction for 2012 has been reduced to $139,000 with an investment
ceiling of $560,000 from $500,000 and a $2 million investment ceiling. In 2013 it will be reduced
even further to $25,000 with a $200,000 investment ceiling.
2. Absent another Alternative Minimum Tax (AMT) patch, the exemption amounts for 2012 will
revert to the lower amounts of $33,750 for unmarried taxpayers, $45,000 for joint filers and
$22,500 for married filing separately filers. Currently they are $48,450 for unmarried taxpayers,
$74,450 for joint filers and $37,225 for married filing separately filers.
3. The $250 Teacher’s Classroom Expense deduction expired last year.
4. The State and Local Sales Tax Deduction expired last year.
5. The mortgage insurance premiums (PMI) deducted as interest expense expired last year..
6. The Tuition and Fees deduction is not available for 2012 unless extended.
7. The research tax credit expired after 2011 and is no longer available for 2012 and beyond.
Items Affecting 2013 tax returns and beyond:
1. The reduced income tax rates of 10, 15, 25, 28, 33, and 35 percent will be replaced with 15, 28,
31, 36 and 39.6 percent levels after 2012.
2. After 2012, the capital gains tax rates will increase from zero, for the 10 and 15 percent brackets
and 15 percent for all other taxpayers, to 10 percent for the 15 percent bracket and 20 percent
for all others. There will be no more qualified dividends taxed at 15% all dividends will be taxed
at the ordinary income tax rates.
3. In 2013 there will be a new 3.8% Medicare Contribution Tax on higher income individuals and
will apply to the “net investment income”. This will generally apply to passive income and the
capital gain from the disposition of property. It will not apply to income or the sale of property
from a trade or business. The thresholds are $250,000 for Married Filing Jointly, $125,000 for
Married Filing Separately, and $200,000 for Singles.
4. Effective January 1, 2013 there is also an additional .9% Medicare tax on wages in excess of
$200,000 for unmarried taxpayers, $250,000 for married couples filing jointly, and $125,000 for
married couples filing separately. This will be done through withholding but it will also apply to
self-employed individuals as well.
5. The payroll tax holiday we have been enjoying for the past two years will end December 31,
2012. This was the 2% rate reduction in FICA taxes on the employee’s portion.
6. The personal exemption and itemized deduction phaseouts are scheduled to return in 2013.
They had been repealed through 2012.
7. The enhanced Student Loan Interest Deduction is scheduled to expire after 2012 and will return
to the old rules & thresholds.
8. In 2012, qualified medical expenses need to exceed 7.5% of Adjusted Gross Income. For 2013
and beyond they will need to exceed 10% of AGI.
9. The current Estate & Gift Tax rate that is in effect though 2012 is set at 35% and the exemption
amount is $5.12 million. After 2012 the rate will be 55% with an exemption amount of $1
million unless extended.
This is not a complete listing of the expired provisions. It is also important to note that Congress could extend many of these provisions making them no longer applicable. We will have to wait and see what Congress does.
ONE THING IS FOR CERTAIN, RAISING TAXES AND INCREASING GOVERNMENT SPENDING WHICH IS EXACTLY WHAT THE BASTERD OBAMA IS PROPOSING WILL CERTAINLY CAUSE AN ECONOMIC DEPRESSION-THANKS YOU OBAMA JERKS FOR ELECTING A COMPLETE AND TOTAL MORON THAT HAS NEVER WORKED IN THE PRIVATE SECTOR AND HAS ALWAYS BEEN A LEECH SUCKING THE TAXPAYERS' BLOOD TO SURVIVE. AS DAN AKROYD SO APTLY SAID TO JANE: "YOU IGNORANT SLUT"-YOU OBAMA SUPPORTERS ARE JANE, OF COURSE AND GET WHAT YOU DESERVE.
COMMUNITY WITH A LARGE
PROBLEM AND A 
PROBLEM.
Comment