John Bullis

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November 6, 2012
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John Bullis: Is Congress suggesting divorce to save taxes?

There are several proposals about income tax rates in the future. Most of those proposals have a "threshold" of $200,000 for single taxpayers and $250,000 for joint returns.

The new, additional 3.8 percent Medicare Surtax starts Jan. 1, 2013, for taxpayers with adjusted gross income above those thresholds who have investment income.

What I don't understand is why the joint return threshold is not twice what it is for a single person.

If a single person has a allowable Adjusted Gross Income of $200,000 before the 3.8 percent surtax may apply, why wouldn't a couple filing a joint return have …

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The Nevada Appeal Updated Nov 6, 2012 03:33AM Published Nov 6, 2012 03:32AM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.