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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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
"Gimme, gimme, gimme," says the Government.
My car insurance went up 20% this year, same car and I haven't had a ticket in decades!
How long are you going to sit back and let them do this...and just whine about it?
3:29 Check out the lizard, he will give you back 15% of that.
Pretty sure very few on this blog need to worry about it. It's for high income bracket.
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
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