December 20, 2013

2013 Updates

Personal Exemptions: $3,900

Standard Deduction: MFJ $12,200  HOH $8,950 Single & MFS $6,100

Child Tax Credit: $3,000

American Opportunity Credit: $2,500

Earned Income Credit:
0 Kids 1 Kid 2 Kids 3+ Kids
Earned Income   $6,370  $9,560  $13,430  $13,430
Max Credit  $487  $3,250  $5,372  $6,044
Phaseout (Single or HOH)  $7,970  $14,340  $17,530  $37,870  $17,530  $43,038  $17,530  $46,227
Phaseout (MFJ)  $13,310  $19,680  $22,870  $43,210  $22,870  $48,378  $22,870  $51,567

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