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This is the 3rd time today if asked this question:
Team,Concerning the new 3.8 % Medicare Tax,do we need to pay it? I believe we should be considered a Real Estate ProfessionalMy wife and have two retail Shopping centers and 4 Residential houses, I understand we need to spent over 751 hours per year on this real estate to in order not to pay the new tax.We have property managers but still we spent a lot of time dealing with insurance issues and driving 500 miles per month to visit the properties to take care of issues and dealing with the different managers When on vacation I can not escape it I still need to receive emails and answers questions.I am 72 and my wife 64 and the net income from these properties is our only income plus social Security and some income from stocks.When we sell one of these properties and do a search for a compatible 1031 exchange we work 15-16 hours a day to find a new property and do a lot of traveling.if you have any questions please ask.Joe XXXXXXXXX@XXXXXX.XXX
Please only charge me once the fist said $35.00 and the second $49.00
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I never got an answer -what happened I paid for it?
Lev are u there?
lev where are u?
Yes, is the tax on the overage over $250,000 or on the total?