Plano Texas Real Estate Blog - Local Plano Real Estate.

What You Need to Know About The 3.8% Tax for 2013

Have you heard about the 3.8% real estate and other investments tax that was tacked on to the healthcare reform bill at the last minute?  If not you can get a fast update from the National Association of Realtors link below.

Quick take: It begins in 2013 which means it'll be 2014 till you have to file your return.  The most important thing to know is if your income is less than $200,000 for single or $250,000 for married couples you don't have to concern yourself with it. 

The tax is about real estate and other investments when you go to sell it, not buy it.
To find out the truth about the bill read this link that will explain the top 10 things you need to know about the 3.8% tax.  Pass it on if you want.  I bet there will be some high end real estate changing hand before years end because of it.