Jun 3, 2015

Today on Mastering Money, Steve and Sinclair review the rising costs of Obama Care--those under Medicare age can expect increases in premiums of 20% to 40% as insurers discover how many claims are coming in. Could be a shocker for many people making more than $75k a year. The penalty for not having Obama Care is in full effect and can be as much as 2% of a person's AGI.   In segment 3, Steve reviews capital gains brackets for various types of assets and income levels. Don't forget, if you sell that property outright, your AGI can skyrocket, putting you in the highest bracket and under the shadow of the Pease provision, where your deductions are reduced by 3%. The Obamacare Tax of 3.8% is a reality, and exposure to the Alternative Minimum Tax can also enter in. Listen in.