2013 CCH Whole Ball of Tax

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2013 CCH Whole Ball of Tax

Contact:
Leslie Bonacum, 847-267-7153, mediahelp@cch.com
Eric Scott , 847-267-2179, eric.scott@wolterskluwer.com
Brenda Au , 847-267-2046, brenda.au@wolterskluwer.com

2012-2013 Tax Brackets

Married Filing Jointly (& Surviving Spouse)

2013 Taxable Income	Tax Rate	2012 Taxable Income	Tax Rate
$0 - $17,850	10%	$0 - $17,400	10%
$17,850 - $72,500	15%	$17,400 - $70,700	15%
$72,500 - $146,400	25%	$70,700 - $142,700	25%
$146,400 - $223,050	28%	$142,700 - $217,450	28%
$223,050 - $398,350	33%	$217,450 - $388,350	33%
$398,350 - $450,000	35%	$388,350 +	35%
$450,000 +	39.6%

Married Filing Separately

2013 Taxable Income	Tax Rate	2012 Taxable Income	Tax Rate
$0 - $8,925	10%	$0 - $8,700	10%
$8,925 - $36,250	15%	$8,700 - $35,350	15%
$36,250 - $73,200	25%	$35,350 - $71,350	25%
$73,200 - $111,525	28%	$71,350 - $108,725	28%
$111,525 - $199,175	33%	$108,725 - $194,175	33%
$199,175 - $225,000	35%	$194,175 +	35%
$225,000 +	39.6%

Single Filers

2013 Taxable Income	Tax Rate	2012 Taxable Income	Tax Rate
$0 - $8,925	10%	$0 - $8,700	10%
$8,925 - $36,250	15%	$8,700 - $35,350	15%
$36,250 - $87,850	25%	$35,350 - $85,650	25%
$87,850 - $183,250	28%	$85,650 - $178,650	28%
$183,250 - $398,350	33%	$178,650 - $388,350	33%
$398,350 - $400,000	35%	$388,350 +	35%
$400,000 +	39.6%

Head of Household

2013 Taxable Income	Tax Rate	2012 Taxable Income	Tax Rate
$0 - $12,750	10%	$0 - $12,400	10%
$12,750 - $48,600	15%	$12,400 - $47,350	15%
$48,600 - $125,450	25%	$47,350 - $122,300	25%
$125,450 - $203,150	28%	$122,300 - $198,050	28%
$203,150 - $398,350	33%	$198,050 - $388,350	33%
$398,350 - $425,000	35%	$388,350 +	35%
$425,000 +	39.6%

Standard Deduction Amounts

Filing Status	2013	2012	Increase
Married Filing Jointly (& Surviving Spouse)	$12,200	$11,900	$300
Married Filing Separately	$6,100	$5,950	$150
Single	$6,100	$5,950	$150
Head of Household	$8,950	$8,700	$250

Standard Deduction for Dependents (“Kiddie” Standard Deduction)

2013	2012	Increase
$1,000	$950	$50

Income Level at Which 3-Percent Itemized Deduction Limitation Takes Effect (Adjusted Gross Income)

Filing Status	2013	2012
Married Filing Jointly (& Surviving Spouse)	$300,000	Not Applicable – No Limitation
Married Filing Separately	$150,000	Not Applicable – No Limitation
Single	$250,000	Not Applicable – No Limitation
Head of Household	$275,000	Not Applicable – No Limitation

Personal Exemption Amounts

2013	2012	Increase
$3,900	$3,800	$100

Threshold for Personal Exemption Phaseout

Filing Status	2013	2012
Married Filing Jointly (& Surviving Spouse)	$300,000	Not Applicable – No Phaseout
Married Filing Separately	$150,000	Not Applicable – No Phaseout
Single	$250,000	Not Applicable – No Phaseout
Head of Household	$275,000	Not Applicable – No Phaseout

Gift Tax Exemption

2013	2012	Increase
$14,000	$13,000	$1,000

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