If you plan to sell your home do it before 2013..... and get ready for the new health care tax in 2011.
Here is something everyone will be able to say thankyou to “ObamaCare” and it’s “architects.”
Please read this unbelievable article, and remember it when you go to vote on Nov. 2, 2010Do you know that Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax? The bulk of these new taxes don't kick in until 2013 (presumably after Obamas re-election).
Example: If you sell your $400,000 home, there will be a $15,200 tax!
This bill is essentially “screws” the retiring generation who often downsize their homes after retirement with the proceeds going to benefit those in America who’ve chosen NOT to work and / or subsidize the ever increasing illegal alien population …
These are FACTS my friends not “urban legends” and / or political mud slinging…How this for “Hope & Change?” Isn’t it nice to know that after you’ve worked hard all your life to achieve what was once known as the “American Dream” you’ll be excessively taxed, and that your hard earned tax dollars will simply be handed out to those who don’t care to contribute or enter our Country lawfully?
If that’s not enough to make your blood boil, here’s more good news…. You can verify this by going to verify this, go to http://www.thomas.gov/ and entering "HR 3590" in the search box,
2011 W-2 Tax Forms and Obamacare
Title IX Revenue Provisions-Subtitle A: Revenue Offset "(Sec.9002). Requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer-sponsored group health coverage that is excludable from the employee's gross income (excluding the value of contributions to flexible spending arrangements)."Starting in 2011-next year-the W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are provided. It doesn't matter if you're retired. Your gross income WILL go up by the amount of insurance your employer paid for. So you'll be required to pay taxes on a larger sum of money than you actually received.
Take the tax form you just finished for 2009 and see what $15,000.00 or $20,000.00 additional gross income does to your tax debt. That's what you'll pay next year. For many it puts you into a much higher bracket. This is how the government is going to buy insurance for fifteen (15) percent that don't have insurance and it's only part of the tax increases, but it's not really a "tax increase" as such, it is a redefinition of your taxable income.Also, go to Kiplinger's and read about the thirteen (13) tax changes for 2010 that could affect you.
Why am I writing / posting this? Because hard working, tax paying Americans have an absolute right to know the truth, and also because an election is coming in November.
I’m not trying to sway political opinion and / or endorse / support any political party but I am hoping to bring awareness to very real issues that will dramatically effect all tax paying Americans and bring potentially devastating financial consequences!
Please vote intelligently, do your homework, dig deeper than the political ad’s on TV and / or the constant automated campaign phone calls you’ll be receiving. So much for the “do not call list” eh?
Be careful! Adjust your tax withholding, or increase your savings, so that you aren't surprised and put in a jam when your federal income taxes are due on April 15, 2012.
Edward J.Benko, Owner / CEO
Genesis Credit Solutions, Inc.
License # MB100019240
440-510-8288Office
720-334-2994 Cell
800-364-1939 Toll Free Voice / Fax
www.GenesisCreditSolutions.net
http://www.noscamshere.com
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." - Thomas Jefferson -
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