WHAT'S NEW?
Many folks have been receiving alarming emails which have gone viral regarding a 3.8% tax on real estate sales beginning in January, 2013. Fortunately, this is only a rumor. True, there is a new 3.8% tax created under the new healthcare legislation, a.k.a. Obamacare. However, it applies to a small group of taxpayers, not to the purchase of a home. Let's take a look at the myth vs the truth.
The 3.8% tax will apply to the "unearned" income of high income taxpayers, that is, those filing "single"...