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Oct 22 2012
2013 Inflation Adjustments

Posted in tax

The IRS as released certain inflation-adjusted tax amounts for 2013, as follows:

 

2012

2013

Kiddie tax deduction

$        950

$     1,000

Annual gift exclusion

13,000

14,000

Foreign earned income exclusion

95,100

97,600

Benefit limit on defined benefit plans

200,000

205,000

Defined contribution limit

50,000

51,000

Compensation limit to determine benefits

250,000

255,000

Elective deferral limit for 401k/403b

17,000

17,500

Elective deferral limit for SIMPLE

11,500

12,000

 

Last Updated by Mike on 2012-10-22 07:04:42 AM

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Thank you for visiting our blog.  While we work hard to keep our content informative and accurate, should you come across an apparent error or misstatement we would appreciate your feedback so we are able to correct the post.  Please be aware that certain information contained in a post may be time sensitive, and as often is the case, can become outdated.

The content of our blog often represents our professional opinion, but it may not apply to your specific set of circumstances, please contact your tax professional for more information.  What you find on this blog should not be taken as counsel and nor should it be considered as fact or absolute.

Comments on this website are the sole responsibility of their writers and the writer will take full responsibility, liability, and blame from any libel or litigation that results from something written in or as a direct result of something written in a comment.

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Thank you for visiting our blog.  While we work hard to keep our content informative and accurate, should you come across an apparent error or misstatement we would appreciate your feedback so we are able to correct the post.  Please be aware that certain information contained in a post may be time sensitive, and as often is the case, can become outdated.

The content of our blog often represents our professional opinion, but it may not apply to your specific set of circumstances, please contact your tax professional for more information.  What you find on this blog should not be taken as counsel and nor should it be considered as fact or absolute.

Comments on this website are the sole responsibility of their writers and the writer will take full responsibility, liability, and blame from any libel or litigation that results from something written in or as a direct result of something written in a comment.