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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Summary from Forbes:

Now, let’s get to the good stuff. As you may remember, 2013 was a pivotal year in tax policy. Beginning on January 1st, a series of tax increases proposed and signed into law by President Obama came into effect, including:

A new maximum rate on ordinary income of 39.6%. The rate applies only to taxable income in excess of $450,000 (if married filing jointly, $400,000 if single).
A new maximum rate on qualified dividends and long-term capital gains of 20%, but once again, only if the taxpayer’s taxable income exceeds $450,000/$400,000.
A resuscitated limitation on itemized deductions; taxpayers with adjusted gross income in excess of $300,000 (if married filing jointly, $250,000 if single) lose 3% of most itemized deductions (maxing out at 80% of itemized deductions) for each dollar adjusted gross income exceeds the threshold.
A taxpayer’s personal exemptions are phased out once adjusted gross income exceeds the $300,000/$250,000 thresholds. Mechanically, once a married taxpayer has adjusted gross income in excess of $400,000, the exemptions are gone.
A new payroll tax was born. Starting in 2013, taxpayers with earned income from wages or self-employment income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 0.9% Medicare tax on the excess earnings.
Lastly, and perhaps most famously, taxpayers with adjusted gross income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 3.8% surtax on “net investment income,” which includes items such as interest, dividends, capital gains, rents, and royalties.[/quote]

Holy s. I think we ticked each of these boxes this year.[/quote]

Lucky you!  You are incredibly wealthy.[/quote]

Umm are you stupid? Mark cuban is wealthy 400k is not.[/quote]

No.  (I'm just a parent who lives on a normal salary).  But I'd suggest that you are.  $400,000 in annual salary is a lot of money to 99 percent of this country.[/quote]

Might be true, but that doesn't make it any easier.   Love the constant theme that if you make some money on this board that your financial problems don't really sting, they are only mild setbacks - leave the real complaining to those of us with real problems!

What a joke.

Last year, I cut a check for $26K - this year it was over $90K.  Total federal burden of $425K.  We were prepared, but it is painful.

Now, to the comment above, the roads I drive on aren't any nicer than anybody else's, the schools aren't any better but the burden is certainly on the high end and borders on ridiculous.  [/quote]

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