2013 Tax Rates – Single Taxpayers – Standard Deduction $6,100
2012 Rates
10%
0 to $8,925
15%
$8,925 to $36,250
25%
$36,250 to $87,850
28%
$87,850 to $183,250
33%
$183,250 to $398,350
35%
$398,350 to $400,000
39.6%
Over $400,000
2013 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,200
10%
0 to $17,850
15%
$17,850 to $72,500
25%
$72,500 to $146,400
28%
$146,400 to $223,050
33%
$223,050 to $398,350
35%
$398,350 to $450,000
39.6%
Over $450,000
2013 Tax Rates – Married Filing Separately – Standard Deduction $6,100
10%
0 to $8,925
15%
$8,925 to $36,250
25%
$36,250 to $73,200
28%
$73,200 to $111,525
33%
$111,525 to $199,175
35%
$199,175 to $225,000
39.6%
Over $225,000
2013 Tax Rates – Head of Household – Standard Deduction $8,950
10%
0 to $12,750
15%
$12,750 to $48,600
25%
$48,600 to $125,450
28%
$125,450 to $203,150
33%
$203,150 to $398,350
35%
$398,350 to $425,000
39.6%
Over $425,000
2013 Tax Rates – Estates & Trusts
15%
0 to $2,450
25%
$2,450 to $5,700
28%
$5,700 to $8,750
33%
$8,750 to $11,950
39.6%
Over $11,950
Social Security
2013 Tax Rates
Social Security Tax Rate: Employers
6.2%
Social Security Tax Rate: Employees
6.2%
Social Security Tax Rate: Self-Employed
12.4%
Maximum Taxable Earnings
$113,700
Medicare Base Salary
Unlimited
Medicare Tax Rate
1.45%
Additional Medicare Tax for income above $200,000 (single filers) or $250,00 (joint filers)
0.9%
Medicare tax on investment income ($200,00 single filers, $250,00 joint filers)
3.8%
Miscellaneous
2013 Tax Rates
Personal Exemption $3,900
Business expensing limit: Cap on equipment purchases
$2,000,000
Business expensing limit: New and Used Equipment and Software
$500,000
Prior-year safe harbor for estimated taxes of higher-income
110% of your 2013 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 under 19 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 but below the 39.6% bracket
15%
Maximum capital gains tax rate for taxpayers in the 39.6% bracket
20%
Capital gains tax rate for unrecaptured Sec. 1250 gains
25%
Capital gains tax rate on collectibles
28%
Maximum contribution for Traditional/Roth IRA
$5,000 if under age 50
$6,000 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 eligible compensation
up to $51,000
401(k) maximum employee contribution limit
$17,500 if under age 50
$23,000 if 50 or older
Estate tax exemption
$5,250,000
Annual Exclusion for Gifts
$14,000
Education
2013 Tax Rates
American Opportunity Credit (Hope)
$2,500
Lifetime Learning Credit
$2,000
Student Loan Interest Deduction
$2,500
Coverdell Education Savings Contribution
$2,000
Standard Meal Rates for Family Child Care Providers for 2012 income tax returns
Continental U.S.
2012 Tax Rates
For each breakfast
$1.24
For each lunch or supper
$2.32
For each snack (up to 3 per day for each child)
$0.69
Alaska
2012 Tax Rates
For each breakfast
$1.97
For each lunch or supper
$3.76
For each snack (up to 3 per day for each child)
$1.12
Hawaii
2012 Tax Rates
For each breakfast
$1.44
For each lunch or supper
$2.71
For each snack (up to 3 per day for each child)
$0.81