It’s finally official! After too much debate, the House vote showed up fashionably late. The 2013 federal income tax brackets were finalized on the first day of the new year.
So what does this mean for everyone? The tax brackets will be unchanged for all but the top income earners. Even more important, though, these tax cuts are permanent. Or the tax cuts are permanent in the sense that they won’t expire. Congress can still change the tax law if they can agree on something. So, at least we won’t have to relive the fiscal cliff again next year.
With the signing of the American Taxpayer Relief Act, Congress made several changes to the tax law which is covered here. The first of which were the 2013 income tax brackets.
These tax tables are for the 2013 tax year, with taxes due in April 2014. Use the 2012 tax brackets for tax returns due in April 2013. Continue Reading…
Every year market pundits and media set out to predict the future. As you would expect (or maybe you wouldn’t?), their success rate falls short of a great batting average. But despite all this, they come back each year to repeat the exercise. Once again, we join the rank and file with some less outlandish market predictions for the year.
It’s safe to say the stock market has been kind to investors this year. The S&P 500 is up about 17% with a handful of trading days left. A great year for any investor. Still, the S&P is just an average with many outliers. Which brings us to the 2012 Best and Worst Market Awards. A collection of outliers that helped form the S&P 500 performance for the year.
With tax time right around the corner, it’s always good to have the important tax deadlines marked on your calendar before you