By SMARTMONEY.COM
|
2013 |
2012 | |
| 10% income tax bracket (based on taxable income) | $0 - $17,850 | $0 - $17,400 |
| 15% income tax bracket (based on taxable income) | $17,851 - $72,500 | $17,401 - $70,700 |
| Beginning of 25% bracket | $72,501 | $70,701 |
| Beginning of 28% bracket | $146,401 | $142,701 |
| Beginning of 33% bracket | $223,051 | $217,451 |
| Beginning of 35% bracket | $398,351 | $388,351 |
| Beginning of 39.6% bracket | $450,001 | N/A |
| Beginning of exposure to 3.8% medicare surtax on investment income (based on AGI) | $250,001 | N/A |
| Standard deduction | $12,200 | $11,900 |
| Beginning/ending of personal exemption phaseout range (based on AGI) | $300,001 - $422,500 | Not applicable for 2012 |
| Beginning of phaseout range for $1000 dependant child credit eligibility (based on AGI) | $110,000 | $110,000 |
| Phaseout range for Lifetime education credit (based on AGI) | $107,000 - $127,000 | $104,000 - $124,000 |
| Phaseout range for American Opportunity education credit (based on AGI) | $160,000 - $180,000 | $160,000 - $180,000 |
| Phaseout range for college loan interest deduction eligibility (based on AGI) | $125,000 - $155,000 | $125,000 - $155,000 |
| Phaseout range for Roth IRA contribution eligibility (based on AGI) | $178,000 - $188,000 | $173,000 - $183,000 |
| Phaseout range for Coverdell Education Savings Account contribution eligibility (based on AGI) | $190,000 - $220,000 | $190,000 - $220,000 |
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