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2013 tax rates/brackets
Old 01-12-2013, 10:56 AM   #1
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2013 tax rates/brackets

For all us kids pushing the tax bracket limits.

http://www.irs.gov/pub/irs-drop/rp-13-15.pdf
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Old 01-12-2013, 11:24 AM   #2
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Thanks for posting this! For 2013, looks like maximum AGI for a couple taking the standard deduction and wishing to remain in 15% bracket is $92,500 (72,500 +12,200 + 7800). A worthwhile goal to aim for in order to stay on 0% tax bracket for LTCG and dividends.

Marc
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Old 01-12-2013, 11:34 AM   #3
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This is something everyone should evaluate. With the SS payroll tax reverting back to its original rate this year, My part time job will earn me about 30 cents on the dollar when figuring in most of the earned money is in 28% tax bracket, plus all other taxes, transportation cost, and loss of state pension tax credit. So I am done for good here in a few months after I finish up my obligation.
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Old 01-12-2013, 03:30 PM   #4
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Originally Posted by grasshopper View Post
For all us kids pushing the tax bracket limits.

http://www.irs.gov/pub/irs-drop/rp-13-15.pdf
Thanks very much!

Wow, for AMT, not only is the exemption amount indexed to inflation, but the other numbers too! [The "excess" taxable income for the 28% rate, and the AMT exemptions phaseout. Those two numbers had been fixed for decades at $175K and $150K respectively.] That's nice!
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Old 01-12-2013, 03:31 PM   #5
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And don't forget the impact on Divs/LTCG.

20% for those in the highest tax bracket plus a 3.8% tax for "higher" compensated individuals/couples thanks to the ACA.
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Old 01-12-2013, 04:21 PM   #6
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This is something everyone should evaluate. With the SS payroll tax reverting back to its original rate this year, My part time job will earn me about 30 cents on the dollar when figuring in most of the earned money is in 28% tax bracket, plus all other taxes, transportation cost, and loss of state pension tax credit. So I am done for good here in a few months after I finish up my obligation.
They really don't give much incentive for singles to w*rk do they.
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Old 01-12-2013, 05:04 PM   #7
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Avoiding ordinary income seems the way to go. I foresee more people disclaiming inherited IRAs, or not withdrawing from them despite the 50% penalty.
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Old 01-12-2013, 05:10 PM   #8
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I always thought it was a little strange that most so-called developed countries disenfranchise successful people, those with "high" income.

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They really don't give much incentive for singles to w*rk do they.
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Old 01-12-2013, 07:11 PM   #9
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I always thought it was a little strange that most so-called developed countries disenfranchise successful people, those with "high" income.
What in the tax laws removes the right to vote from high income folks?
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Old 01-12-2013, 07:16 PM   #10
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High income folks are by definition a minority and will always be plundered by the majority. One of the many flaws with democracy. Maybe when enough of us with substantial income move to more tax friendly countries and the political / economic environment in the USA plummits enough you'll understand.
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Old 01-12-2013, 07:23 PM   #11
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High income folks are by definition a minority and will always be plundered by the majority. One of the many flaws with democracy. Maybe when enough of us with substantial income move to more tax friendly countries and the political / economic environment in the USA plummits enough you'll understand.
I understand what the word disenfranchise means, which is what you say is happening. Try looking it up.
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Old 01-12-2013, 07:30 PM   #12
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You're clearly using a different definition. Disenfranchise also means marginalized.Which is quite accurate; money that I lawfully earned is forcibly taken from me, much more so than for an average income person.

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I understand what the word disenfranchise means, which is what you say is happening. Try looking it up.
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Old 01-12-2013, 07:40 PM   #13
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Disenfranchise also means marginalized.
Then why didn't you say "marginalized" to avoid confusion? It is also difficult for me to believe that someone who can't spell "plummet" is high income.
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Old 01-12-2013, 07:41 PM   #14
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Originally Posted by vxp036000 View Post
I always thought it was a little strange that most so-called developed countries disenfranchise successful people, those with "high" income.
Quote:
Originally Posted by vxp036000 View Post
High income folks are by definition a minority and will always be plundered by the majority. One of the many flaws with democracy. Maybe when enough of us with substantial income move to more tax friendly countries and the political / economic environment in the USA plummits enough you'll understand.
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You're clearly using a different definition. Disenfranchise also means marginalized.Which is quite accurate; money that I lawfully earned is forcibly taken from me, much more so than for an average income person.
This sounds like the beginning of a political diatribe - something this forum prohibits. Rather than continue into that minefield you might want to stick to trying to convince a bunch of millionaires why your method of investing is better than theirs.
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Old 01-12-2013, 07:42 PM   #15
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Quite frankly, I don't care whose investment strategy is better. Clearly you do

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This sounds like the beginning of a political diatribe - something this forum prohibits. Rather than continue into that minefield you might want to stick to trying to convince a bunch of millionaires why your method of investing is better than theirs.
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Old 01-12-2013, 07:43 PM   #16
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Quite frankly, I don't care whose investment strategy is better.
Then why are you espousing your investment strategy so adamantly?
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Old 01-12-2013, 07:44 PM   #17
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I clearly state that it works for me and also advised that it probably wouldn't work for most other folks. How much more clear can I be? What I see a bunch of folks getting all up in arms about how a few folks have an alternative way of investing. Not to mention ridiculed, and personal attacks.

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Then why are you espousing your investment strategy so adamantly?
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Old 01-12-2013, 07:48 PM   #18
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Showing your true colors now

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Rather than continue into that minefield you might want to stick to trying to convince a bunch of millionaires why your method of investing is better than theirs.
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Old 01-12-2013, 08:26 PM   #19
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I clearly state that it works for me and also advised that it probably wouldn't work for most other folks. How much more clear can I be? What I see a bunch of folks getting all up in arms about how a few folks have an alternative way of investing. Not to mention ridiculed, and personal attacks.
Speaking as someone who plans on bailing from my day job in the next few years and living an extremely tax-efficient life, I am quite happy that there are people like yourself who generate oodles of taxable income and carry the weight of gubmint expenditures. I am tired of doing so and am happy to cede that to you and your compatriots.
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Old 01-12-2013, 08:29 PM   #20
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Showing your true colors now
Word to the wise: generally speaking, comments like this appear to be frowned upon by the moderators here. Play nice in the sandbox, or spend time in the penalty box.
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