Medicare Tax

When Can Seniors Deduct Medicare Premiums on Their Tax Returns?

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If you’re 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be [...]

Is Your Income High Enough To Owe Two Extra Taxes?

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High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of [...]