Important Tax News


2013 Income Tax Thresholds


These thresholds will apply to some individuals who exceed the threshold amounts listed below.

For further information, please contact us at 301-258-0300

 

Married Filing Joint Income Tax Return

Single Persons

Type of Income

39.6% ordinary income tax rate

$450,000

$400,000

Taxable income

20% rate on long-term gains and qualified dividends

$450,000

$400,000

Taxable income

Itemized deduction limitation

$300,000

$250,000

AGI*

Phase-out of personal exemption

$300,000

$250,000

AGI*

Phase-out of AMT exemption

$153,900

$115,400

AMTI**

28% AMT rate

$179,000

$179,000

AMTI**


*Adjusted Gross Income
**Alternative minimum taxable income

Source: U.S. Internal Revenue Service

 


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