2013

Federal Income Tax Tables and Rates For 2014 Tax Season

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April 15th 2014, or the 2013 tax filing due date, is not that far away. Which means its time to do some serious tax planning so that by year end you maximize your income while minimizing your taxes dues when filing in 2014.  But first, the official rates and tables for tax year 2013. In […]

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How Much Higher Will Mortgage Rates Go This Year

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With the tapering of the Fed’s Quantitative Easing (QE) program, economists are predicting that rates will continue rising for the remainder of 2013. This is based on the dramatic rise of the 10 year Treasury yield over the last month to which mortgage rates are loosely tied. The 30-year, fixed rate loan recently went above […]

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The 10 Largest Tax Breaks In The Income Tax system

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The Congressional Budget Office (CBO) has published an interesting report titled, The Distribution of Major Tax Expenditures in the Individual Income Tax System, that shows how 10 of the largest tax breaks, credits and deductions are distributed across household with different income levels. These tax breaks (or tax expenditures as they are referred to) include, […]

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Your 2013 Tax Rate – Understanding Your IRS Marginal and Effective Tax Bracket

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With the 2012 tax season in the rear view mirror, its time to start thinking about 2013 taxes and strategies that you can put in place to minimize taxes owed in 2014.  But before that take some time to familiarize yourself with the new 2013 tax brackets shown below. But, be careful in reading the table below […]

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2013 Best Online Broker Survey – Is Your Stock or Options Broker in the Top 10

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Barron’s has released their 2013 broker survey and it was good to see that most of the online brokers I use and recommend made the list. What’s interesting is the continuing shift towards mobile trading, particularly on the iPad and other tablet devices, which are being used by more and more investors for their online trading needs. You can see this […]

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2013 Housing Market Outlook

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My realtor who helped with buying my home a few years ago occasionally sends me newsletters on the state of the US housing market. For the most part this is marketing material looking for referrals and to keep her in mind if when I decide to sell or upgrade. But a recent newsletter she sent me had an […]

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2013 IRS Official Tax Updates – Tax Rate Schedules, Standard Deduction, Personal Exemption and AMT update

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The IRS has published its official 2013 changes reflecting annual inflation adjustments and tax table updates from the recently passed Fiscal Cliff legislation, officially known as the American Taxpayer Relief Act of 2012. Key changes include: For 2013 the 39.6 percent tax rate has been reinstated for individuals whose income exceeds $400,000 ($450,000 for married taxpayers filing a joint return). […]

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2013 Debt Ceiling Debate – Spending Cuts, Soaring Deficit, Tax Refund Delays and Political Theatrics

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As I was writing this article I re-read my original pieces on the 2011 debt ceiling debate/deal and got a major sense of deja-vu. After 18 months we are back in the same place with a dysfunctional Congress, who barely passed legislation to avert the fiscal cliff, trying to reach a new deal to keep the nation from the edge of […]

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2013 Tax Changes, Credits and Impacts You Need to Be Aware of When Filing Your Tax Return in 2014

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[Updated for 2013-2014 tax filing season] Thanks to the so called fiscal cliff deal reached last year there were a number of impacts to taxes in 2013 which you need to be aware of when filing your 2014 taxes. Changes were in the form of updated federal tax rates, new phase out deductions and the […]

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2013 Itemized Deductions and Personal Exemption Phase-out Income Limit Changes To Adversely Affect Millions of Taxpayers

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While legislation to avert the fiscal cliff enabled 2013 federal tax rates for most Americans to stay constant, it raised the threshold for those required to pay higher tax rates to $400,000/$450,000 (single/married) and included provisions to restart limits on certain itemized deductions and personal exemptions that were phased out and eventually removed as part […]

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