The Affordable Care Act was and still is a highly contentious piece of legislative history. Here are a few of the new taxes many people are unaware of: 1. An Increase to the Adjusted Gross Income Threshold for Medical Deductions: Taxpayers will now have to exceed a 10% medical expense threshold versus the previous 7.5% threshold. This is an exemption for those that are 65 and older, but this will go away in 2017. 2. Additional Medicare Tax: Taxpayers with incomes that exceed certain thresholds will now have to pay an additional (double) tax on their taxable medicare earnings. 3. Net Investment Income Tax (NIT): Again, as in the previous tax, taxpayers that exceed certain income thresholds will now have to pay additional (double) taxes on previously taxed sources of investment income such as interest, dividends and capital gains. 

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Love and Associates, Inc is a tax resolution, tax preparation and tax planning company located in San Diego, Ca with clients all over the world. They offer support for small to medium size businesses as well as solutions for those with tax problems and burdens.