2013

Minimum Filing Requirements

and Exemption/Deduction Amounts*

Filing Status

Under 65

Over 65

Standard Deduction

Exemption

Over 65 or Blind  Additional

Single

$ 10,000

$ 11,500

$6,100

$3,900

$ 1,500

Head Of Household

$12,850

$14,350

$8,950

$3,900

$1,500

Married Filing Jointly

$20,000

$22,400

$12,200

$3,900

$1,200

Married Filing Separately

$10,000

$11,200

$6,100

$3,900

$1,200

Qualified Widow(er)

$16,100

$17,300

$12,200

$3,900

$1,200

note:* certain personal tax situations may alter amounts shown


Other Helpful 2013 Information


Earnings Ceiling for Social Security for 2013

    * Under Full Retirement Age

    * At Full Retirement Age

    * Over Full Retirement Age


$15,480

$41,400

$Unlimited

Self-Employed Insurance Deduction

100%

Earned Income Credit Maximum

No Child $ 487  (1) Child $3,250   ( 2) or more $5,372 ( 3) or more $6,044

Education Credits

Hope Credit Maximum $2,500, Lifetime Credit maximum $2,000, College Tuition & Fees Deduction $4,000 Maximum

Child Tax Credit Maximum

$1,000

Standard Business Auto Rate Avg.

Charitable Rate

Medical / Moving Rate Avg.

Jan 1 - Jun 30

0.56

0.14

0.24

Jul 1 - Dec 31

0.56

0.14

0.24

Child's Unearned Income Limit

$2,000

Estate Tax Exclusion

$5,000,000

Gift Limit

$14,000

Adoption Credit

$12,970

IRA/Roth over 50 Limit

$6,500

Qualified Tuition Plan Gift Contribution Limit

$14,000

Retirement Contributions 2013

                                      under age 50     over  age 50

Traditional IRA/Roth        $  5,000               $  6,000

401-K & 403-B Plans       $17,500               $23,000

Simple IRA Plans           $  12,000               $  14,500

SEP Plans 25% of  earned maximum compensation limit of $52,000



2018 Helpful Tax Information


2017 Helpful Tax Information


2016 Helpful Tax Information


2015 Helpful Tax Information


2014 Helpful Tax Information


2012 Helpful Tax Information

2011 Helpful Tax Information

2010 Helpful Tax Information

2009 Helpful Tax Information

2008 Helpful Tax Information

2007 Helpful Tax Information

2006 Helpful Tax Information

2005 Helpful Tax Information

2004 Helpful Tax Information

2003 Helpful Tax Information


AVOIDING AN AUDIT






IMPORTANT TAX ARTICLES



2018 Client Tax Letter




Annual 2015 Tax Newsletter
What's New in 2015



2014 Client Letter What's New in 2014...


TAX COURT CASES



W-2 / 1099 Problems



S-Corp Employee Issue



Earned Income Tax Credit Issue