2013 numbers Flashcards
0
Q
individual exemption phase out at how much?
A
$300,000
1
Q
Top tax bracket for cap gain
A
20%
450,000+ ?
2
Q
annual exclusion amount
A
14,000
3
Q
max for a DB plan
A
51,000
4
Q
Max exemption
A
5,250,000
5
Q
max income bracket
A
40%
6
Q
Kiddie Tax = under age 24 by the end taxable year and who have over 2,000 earned income, note standard deduction is $1000
A
2,100 earned income 1,000 deduction -------- 1000 x 10% = 100 100X 28% = 28 total kiddie tax is128
