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Articles on Taxes

  1. Business taxes vary for C and S corporations
    Bush-era tax cuts were allowed to expire for higher-income taxpayers without distinguishing between active business and passive investment income, impacting pass-through entities. Those entities that are organized as sole proprietorships, partnerships or S corporations now  |  Read More »
  2. Earned Income Tax Credit 2013
    Number of Children 0 1 2 3+ Earned Income $6,370 $9,560 $13,430 $13,430 Max Credit $487 $3,250 $5,372 $6,044 Phase Out (single, HOH) $7,970 – $14,340 $17,530 – $37,870 $17,530 – $43,038 $17,530 – $46,227  |  Read More »
  3. Miscellaneous 2013 Tax Rates
    Personal exemption $3,900 Business equipment expense deduction $500,000 Prior-year safe harbor for estimated taxes of higher-income 110% of your 2011 tax liability Child tax credit $500 Maximum unearned income for children before kiddie tax applies  |  Read More »
  4. Education & Social Security 2013 Tax Rates
    Social Security 2013 Tax Rates Base Salary $113,700 Social Security Tax Rate 6.2% Maximum Social Security Tax $7,049.49 Medicare Base Salary Above $200,000 + .9%   Education 2013 Tax Rates American Opportunity Tax Credit $2,500  |  Read More »
  5. 2013 Tax Rates for Estates & Trusts
    If taxable income is over but not over the tax is $0 $2,400 15% $2,400 $5,600 $360 plus 25% of the amount over $2,400 $5,600 $8,500 $1,160 plus 28% of the amount over $5,600 $8,500  |  Read More »