2013 Tax Rates

2013 Tax Rates Schedule X - Single

If taxable income is over

But not over

The tax is

$0

$8,925

10% of the taxable amount

$8,925

$36,250

$892.50 plus 15% of the excess over $8,925

$36,250

$87,850

$4,991.25 plus 25% of the excess over $36,250

$87,850

$183,250

$17,891.25 plus 28% of the excess over $87,850

$183,250

$398,350

$44,603.25 plus 33% of the excess over $183,250

$398,350

$400,000

$115,586.25 plus 35% of the excess over $398,350

Over $400,000

no limit

$116,163.75 plus 39.6% of the excess over $400,000

2013 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0

$17,850

10% of the taxable amount

$17,850

$72,500

$1,785 plus 15% of the excess over $17,850

$72,500

$146,400

$9,982.50 plus 25% of the excess over $72,500

$146,400

$223,050

$28,457.50 plus 28% of the excess over $146,400

$223,050

$398,350

$49,919.50 plus 33% of the excess over $223,050

$398,350

$450,000

$107,768.50 plus 35% of the excess over $398,350

$450,000

no limit

$125,846 plus 39.6% of the excess over $450,000

2013 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over

But not over

The tax is

$0

$8,925

10% of the taxable amount

$8,925

$36,250

$892.50 plus 15% of the excess over $8,925

$36,250

$73,200

$4,991.25 plus 25% of the excess over $36,250

$73,200

$111,525

$14,228.75 plus 28% of the excess over $73,200

$111,525

$199,175

$24,959.75 plus 33% of the excess over $111,525

$199,175

$225,000

$53,884.25 plus 35% of the excess over $199,175

Over $225,000

no limit

$62,923 plus 39.6% of the excess over $225,000

2013 Tax Rates Schedule Z - Head of Household

If taxable income is over

But not over

The tax is

$0

$12,750

10% of the taxable amount

$12,750

$48,600

$1,275 plus 15% of the excess over $12,750

$48,600

$125,450

$6,652.50 plus 25% of the excess over $48,600

$125,450

$203,150

$25,865 plus 28% of the excess over $125,450

$203,150

$398,350

$47,621 plus 33% of the excess over $203,150

$398,350

$425,000

$112,037 plus 35% of the excess over $398,350

$425,000

no limit

$121,364.50 plus 39.6% of the excess over $425,000

2013 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0

$2,450

15% of the taxable income

$2,450

$5,700

$367.50 plus 25% of the excess over $2,450

$5,700

$8,750

$1,180 plus 28% of the excess over $5,700

$8,750

$11,950

$2,034 plus 33% of the excess over $8,750

$11,950

no limit

$3,090 plus 39.6% of the excess over $11,950

Social Security 2013 Tax Rates

Base Salary

$113,700

Social Security Tax Rate

6.2%

Maximum Social Security Tax

$7,049.40

Medicare Base Salary

unlimited

Medicare Tax Rate

1.45%

Additional Medicare 2013 Tax Rates

Additional Medicare Tax

0.9%

Filing status

Compensation over

Married filing jointly

$250,000

Married filing separate

$125,000

Single

$200,000

Head of household (with qualifying person)

$200,000

Qualifying widow(er) with dependent child

$200,000

Education 2013 Credit and Deduction Limits

American Opportunity Tax Credit

$2,500

Lifetime Learning Credit

$2,000

Student Loan Interest Deduction

$2,500

Coverdell Education Savings Contribution

$2,000

Miscellaneous 2013 Tax Rates

Personal Exemption

$3,900

Business Equipment Expense Deduction

$500,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2012 tax liability

Standard mileage rate for business driving

56.5 cents

Standard mileage rate for medical/moving driving

24 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$1,000

Unearned income maximum for children before kiddie tax applies

$1,000

Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket

0%

Maximum capital gains tax rate for taxpayers above the 15% bracket

15%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles

28%

Maximum contribution for Traditional/Roth IRA

$5,500 if under age 50

$6,500 if 50 or older

Maximum employee contribution to SIMPLE IRA

$12,000 if under age 50

$14,500 if 50 or older

Maximum Contribution to SEP IRA

25% of compensation up to $51,000

401(k) maximum employee contribution limit

$17,500 if under age 50

$23,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$5,250,000

Annual Exclusion for Gifts

$14,000

 

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