ATRA
Raises Taxes for High Earners

The government's ATRA (American Taxpayer Relief Act) jacked up the tax for the more wealthy of us for 2013.

 The top earners tax rate gets to be as high as 39.6%.
This is a new and higher rate.

1. It hits the single folks who earn more than $400,000 a year.


2. Married couples who are joint-filing and earn up to $450,000 a year..


3. A head of the household who are earning more than $425,000 a year is affected, as well.

1. $400,000 a year for a single person


2. $450,000 for married joint-filing couples


3. $425,000 for heads of households

For the less wealthy taxpayers in the lower financial brackets there is a nice change for them. That is, if you are comparing the taxes levied against them to taxes that the higher bracketed folks among us will have to pay. Here are some changes:

1. A 15% federal rate for their long term gains and dividends


2. A nice 0% federal rate for gains and dividends that would otherwise have fallen between the 10% and 15% brackets.

This is just a bit of information on the changes that have happened.

For more info check our web page that is entitled
13 tax increases for the year 2013

It has a lot of pertinent information about the year 2013 tax changes.