ON THE HORIZON


FOR TAX YEARS BEGINNING IN


2013 FORWARD, HOWEVER, THE TOP TAX RATE ON CAPITAL


GAINS, DIVIDENDS, AND INTEREST


INCOME IS NOW 20 PERCENT IF YOU


FALL WITHIN THE HIGHEST INCOME TAX BRACKET (I.E.


MARRIED TAXPAYERS WHO FILE A JOINT RETURN WITH


TAXABLE INCOME OF $400,000 OR MORE).


reconciled on your 2013 personal tax return. Any over or under payments will be calculated on Form 1040 and show a balance due, or amount to be refunded, as necessary. Secondly, if you have income of $200,000


or over and are a single filer ($250,000 for a married couple filing jointly) you will be subject to an additional 3.8 percent tax on the lesser of passive investment income or modified adjusted gross income in excess of the threshold. Investment income includes net income from rentals reported on Schedule E, capital gains, as well as any other passive investments that are generating income for you.


Depending on the amount and type of


income you have, you could fall into the 39.6 percent bracket; have wages in excess of the threshold and owe the additional 0.9 percent surtax; have investment income that has


ROADWISE | 12 ISSUE 1, 2013 | www.mttrucking.org 7


| integrity | | experience | | commitment |


Attorneys at Law


Garlington, Lohn, Robinson, PLLP 350 Ryman Street


Missoula, Montana 59802 (406) 523-2500 www.garlington.com


You’ve been looking for something like this for a long time. Call today!


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