So you'd end up paying 1.45% on the first $200,000 and 2.35% on the rest. The 0.9% Medicare surtax is a recent change and is intended to help pay for health reform. Investment income taxes: Capital gains, dividends and interest represent unearned income..
The tuition and fees deduction sounds good on the surface; it offers up to a $4,000 deduction. This option is open even if you donât itemize deductions. But since the deduction is for the taxpayer, not the student, it may not be the most beneficial for taxpayers with more than one student in the family.
For the 2014 Tax Year, the Student Loan Interest Deduction and the Tuition and Fees Deduction are the two student tax deductions available. Please note that you can claim only one type of education credit or deduction per student on your federal tax return each Tax Year.or the 2014 Tax Year, the Student Loan Interest Deduction and the Tuition and Fees Deduction are the two student tax deductions available. Please note that you can claim only one type of education credit or deduction per student on your federal tax return each Tax Year.