Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Friday, January 17, 2014

7 Important Tax Changes

IRS-100wiThe Wall Street Journal has highlighted some important changes in tax law that tax payers should be aware of. They are listed below:

  1. There is a higher top tax rates on income, capital gains and dividends
  2. Medicare surtax on investment investment income may apply to some taxpayers
  3. Medicare surtax on salary and self-employment income may apply to some taxpayers
  4. Exemptions can be curtailed for some taxpayers
  5. Itemized deductions can be curtailed for some taxpayers
  6. There is a higher threshold for itemized medical deductions
  7. Married same-sex couples must file as married taxpayers

See David Song, WSJ: Seven New Changes for This Tax Season, Wealth Strategies 2.0, Jan. 15, 2014. 

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/01/7-important-tax-changes.html

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