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Thursday, January 23, 2014

Taxpayers Face New 39.6 Percent Bracket As New Rates Kick In

A new top tax rate, higher Medicare taxes and the phaseout of deductions and exemptions could mean higher tax bills for wealthier Americans this year. Legally wed same-sex couples, meanwhile, may find the true meaning of the marriage penalty.

All taxpayers will have a harder time taking medical deductions.

In other changes for the 2013 tax year, the alternative minimum tax has been patched - permanently - to prevent more middle-income people from being drawn in, and there's a simpler way to compute the home office deduction.

Tax rate tables and the standard deduction have been adjusted for inflation, as has the maximum contribution to retirement accounts, including 401(k) plans and individual retirement accounts, or IRAs.

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6 comments:

Anonymous said...

"Gimme, gimme, gimme," says the Government.

Anonymous said...

My car insurance went up 20% this year, same car and I haven't had a ticket in decades!

That's what our Forefathers great...They Fired on the enemy and WON said...

How long are you going to sit back and let them do this...and just whine about it?

Anonymous said...

3:29 Check out the lizard, he will give you back 15% of that.

Anonymous said...

Pretty sure very few on this blog need to worry about it. It's for high income bracket.

Anonymous said...

Sure 4:48 wrong attitude ..may not effect you today but once they get a foot in the door it's hard to remove it..its for the children...terroism....your health... same tactic different issue..dont give them another inch