Are You Liable for Two Additional Taxes on Your Income – The Burns Firm

Are You Liable for Two Additional Taxes on Your Income?

September 19th, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Income Tax, Medicare Tax, Net Investment Income Tax, NIIT, Tax, tax accountant, tax accountant near me, Tax Advisor, Taxable Income, Texas CPA, The Burns Firm|Tags: Additional Medicare Tax, Are You Liable for Two Additional Taxes on Your Income, CPA, cpa near me, Dallas CPA, NIIT, tax, tax advisor, Texas CPA, The Burns Firm|

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. [...]