2013 INCOME TAX RATES & INFORMATION
Marginal Ordinary Income Tax Rates
Single
| Rate |
Over |
To |
| 10% |
0 |
8,925 |
| 15% |
8,925 |
36,250 |
| 25% |
36,250 |
87,850 |
| 28% |
87,850 |
185,250 |
| 33% |
183,250 |
398,350 |
| 35% |
398,350 |
400,000 |
| 39.6% |
400,000 |
|
|
Head of Household
| Rate |
From |
To |
| 10% |
0 |
12,750 |
| 15% |
12,750 |
48,600 |
| 25% |
48,600 |
125,450 |
| 28% |
125,450 |
203,150 |
| 33% |
203,150 |
398,350 |
| 35% |
398,350 |
425,000 |
| 39.6% |
425,000 |
|
|
Married Filing Jointly *
| Rate |
From |
To |
| 10% |
0 |
17,850 |
| 15% |
17,850 |
72,500 |
| 25% |
72,500 |
146,400 |
| 28% |
146,400 |
223,050 |
| 33% |
223,050 |
398,350 |
| 35% |
398,350 |
450,000 |
| 39.6% |
450,000 |
|
|
Married Filing Separately
| Rate |
From |
To |
| 10% |
0 |
8,925 |
| 15% |
8,925 |
36,250 |
| 25% |
36,250 |
73,200 |
| 28% |
73,200 |
111,525 |
| 33% |
111,525 |
199,175 |
| 35% |
199,175 |
225,000 |
| 39.6% |
225,000 |
|
|
* Including Qualifying Widow(er)
Standard Deduction
| Filing Status |
Amount |
| Single |
$6,100 |
| Head of Household |
$8,950 |
| Married Filing Joint/Qualifying Widow(er) |
$12,200 |
| Married Filing Separately |
$6,100 |
| |
|
| Additional Standard Deduction if Blind or
Age 65+ |
|
| Single |
$1,500 |
| Head of Household |
$1,500 |
| Married Filing Joint/Qualifying Widow(er) |
$1,200 |
| Married Filing Separately |
$1,200 |
| |
|
| Standard Deduction for Dependents |
|
| Regular amount |
$1,000 |
| Maximum amount is earned income plus $350 up to
allowed standard deduction based on filing status |
|
Personal Exemptions
For 2013, the personal exemption is $3,900. Note: If someone else can claim you as a dependent,
then you cannot claim your own personal exemption.
Phaseout of Personal Exemptions for 2013
| Filing Status |
Phaseout Begins |
Phaseout Ends |
| Married Filing Jointly |
300,000 |
422,500 |
| Qualifying Widow(er) |
300,000 |
422,500 |
| Head of Household |
275,000 |
397,500 |
| Single |
250,000 |
372,500 |
| Married Filing Separately |
150,000 |
211,250 |
Capital Gains - Long Term and Short Term
| Type of Asset |
Short-Term Tax Rate |
Long-Term Tax Rate |
Unearned Medicare Contribution Surtax |
| Collectibles |
Ordinary Tax
Rates |
28% |
Potential 3.8% |
| Depreciation
Recapture |
Ordinary Tax
Rates |
25% |
Potential 3.8% |
| Qualified Small
Bus Stock |
Ordinary Tax
Rates |
28% after
exclusion |
Potential 3.8% |
| Other Capital
Assets |
Ordinary Tax
Rates |
0%, 15%, or 20% |
Potential 3.8% |
| |
10% |
0% |
|
| |
15% |
0% |
|
| |
25% |
15% |
|
| |
28% |
15% |
|
| |
33% |
15% |
Potential 3.8% |
| |
35% |
15% |
Potential 3.8% |
| |
39.6% |
20% |
Potential 3.8% |
If you need tax assistance for your 1040 individual income tax return or your corporate 1120,
S-Corp 1120S, or partnership 1065 tax returns, give Jeff Jackson CPA a call at
(678) 919-1250 to schedule an appointment. You can also submit your information via the
Contact Us form and someone will call you shortly.
Jeffrey L. Jackson, CPA LLC
