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Personal exemption phaseout

Phaseout of 2% for every $2500 ($1250) MFS or fraction thereof that AGI exceeds the following amounts...

1

Personal exemption amount per person

$3,950

3

Personal exemption – single (phaseout begins at)

$254,200

4

Personal exemption – married filing jointly or surviving spouse (phaseout begins at)

$305,050

5

Personal exemption – married filing separately (phaseout begins at)

$152,525

5

Personal exemption – head of household

$279,650

6

Personal exemption – head of household (phaseout begins at)

$279,650

8

Phaseout of itemized deductions – single (phaseout begins at)

$254,200

9

Phaseout of itemized deductions – married filing jointly or surviving spouse (phaseout begins at)

$305,050

10

Phaseout of itemized deductions – married filing separately (phaseout begins at)

$152,525

10

Employment taxes: Social Security tax rate – employer's portion

6.2%

11

Phaseout of itemized deductions – head of household (phaseout begins at)

$279,650

12

Employment taxes: Social Security tax rate – employee's portion

6.2%

13

Employment taxes: Social Security tax rate – total for self-employed individual

12.4%

14

Maximum amount of earning subject to Social Security taxes

$117,000

15

Employment taxes: Medicare tax rate – employee's portion (on all net self-employment income)

1.45%

16

Employment taxes: Medicare tax rate – employer's portion

1.45%

17

Employment taxes: Medicare tax rate – total for self-employed individual (on all net self-employment income)

2.9%

18

Employment taxes: Medicare tax rate – employee's additional Medicare surtax on earnings above $200,000 ($250,000 MFJ, $125,000 MFS)

0.9%

19

Maximum amount of earnings subject to medicare taxes

Unlimited

20

Total employment taxes: Employer's portion

7.65%

21

Total employment taxes: Employee's portion

7.65%

22

Total employment taxes for self-employed individual

15.3%

23

Percentage of self-employed earnings subject to self-employment (SE) taxes

92.35%

24

Percentage of self-employment (SE) taxes deducted above-the-line (calculated without 2% payroll tax cut in 2012)

50%

25

Kiddie Tax: Amount not subject to tax due to personal exemption

$1,000

26

Kiddie Tax: Amount taxed at child's rate of 10%

$1,000

27

Kiddie Tax: Unearned income above these amounts taxed at parents' marginal tax rate

Unlimited

28

Child Tax Credit: Child tax credit per child

$1,000

29

Child Tax Credit Phaseout

Phaseout of $50 for every $1,000 or fraction thereof that AGI exceeds the following amounts (completely phased out if AGI exceeds threshold by $20,000 per child)

30

Child Tax Credit – Single (phaseout begins at)

$75,000

31

Child Tax Credit – married filing jointly or surviving spouse (phaseout begins at)

$110,000

32

Child Tax Credit – married filing separately (phaseout begins at)

$55,000

33

Child Tax Credit – head of household (phaseout begins at)

$75,000

34

Child or Dependent Care Credit (Maximum amount of qualifying expenses): One child or dependent

$3,000

35

Child or Dependent Care Credit (Maximum amount of qualifying expenses): Two or more children or dependents

$6,000

36

Child or Dependent Care Credit: AGI amount when credit reduced to 20% level

$43,000

37

Child or Dependent Care Credit (Maximum credit, assuming taxpayer's AGI at 20% level): one child or dependent

$600

38

Child or Dependent Care Credit (Maximum credit, assuming taxpayer's AGI at 20% level): Two or more children or dependents

$1,200

39

American Opportunity Tax Credit (Credit percentage amounts): First $2,000

100%

40

American Opportunity Tax Credit (Credit percentage amounts): Second $2,000

25%

41

American Opportunity Tax Credit: Maximum credit

$2,500

42

American Opportunity Tax Credit – Single (phaseout range)

$80,000 - $90,000

43

American Opportunity Tax Credit – married filing jointly or surviving spouse (phaseout range)

$160,000 - $180,000

44

American Opportunity Tax Credit – married filing separately (phaseout range)

$0 - $0

45

American Opportunity Tax Credit – head of household (phaseout range)

$80,000 - $90,000

46

Lifetime Learning Credit (Credit percentage amounts): First $10,000

20%

47

Lifetime Learning Credit: Maximum credit

$2,000

48

Lifetime Learning Credit – married filing jointly or surviving spouse (phaseout range)

$108,000 - $128,000

49

Lifetime Learning Credit – Single (phaseout range)

$54,000 - $64,000

50

Lifetime Learning Credit – married filing separately (phaseout range)

$0 - $0

51

Lifetime Learning Credit – head of household (phaseout range)

$54,000 - $64,000

52

Above-the-line deduction for educational loan interest payments

$2,500

53

Educational Loan Interest Deduction – Single (phaseout range)

$65,000 - $80,000

54

Educational Loan Interest Deduction – married filing separately (phaseout range)

$0 - $0

55

Educational Loan Interest Deduction – married filing jointly or surviving spouse (phaseout range)

$130,000 - $160,000

56

Educational Loan Interest Deduction – head of household (phaseout range)

$65,000 - $80,000

57

Above-the-line deduction for tuition and related expenses: AGI limitations to claim up to the full $4,000 above-the-line deduction

Expired

58

Above-the-line deduction for tuition and related expenses: AGI limitations to claim up to $2,000 above-the-line deduction if AGI exceeds the limits above for the $4,000 deduction

Expired

60

Tax-free treatment on Series EE bonds – Single (phaseout range)

$76,000 - $91,000

61

Tax-free treatment on Series EE bonds – Married filing jointly or surviving spouse (phaseout range)

$113,950 - $143,950

62

Tax-free treatment on Series EE bonds – Married filing separately (phaseout range)

$76,000 - $91,000

63

Tax-free treatment on Series EE bonds – Head of household (phaseout range)

$76,000 - $91,000

64

Standard Deductions – Single

$6,200

65

Standard Deductions – MFJ or surviving spouse

$12,400

66

Standard Deductions – MFS

$6,200

67

Standard Deductions – Head of Household

$9,100

68

Standard Deductions – Married: Additional standard deduction amount if age 65 or older or blind

$1,200

69

Standard Deductions – Unmarried: Additional standard deduction amount if age 65 or older or blind

$1,550

70

Standard Deductions – Taxpayer is claimed as a dependent with no earned income

$1,000

71

Standard Deductions – Taxpayer is claimed as a dependent with earned income

earned income plus $350 (maximum of $6,200)

72

Coverdell ESA contribution limit

$2,000

73

Coverdell ESA – Single (phaseout range)

$95,000 - $110,000

74

Coverdell ESA – Married filing jointly or surviving spouse (phaseout range)

$190,000 - $220,000

75

Coverdell ESA – Married filing separately (phaseout range)

$95,000 - $110,000

76

Coverdell ESA – Head of household (phaseout range)

$95,000 - $110,000

77

Section 179 deduction amount

$25,000

78

Section 179 limit on property placed in service

$200,000

79

Tax rates for capital gains and dividends – 39.6% tax bracket

20%

80

Tax rates for capital gains and dividends – 25%, 28%, 33%, and 35% tax bracket

15%

81

Tax rates for capital gains and dividends – 10% or 15% tax bracket

0%

82

Tax rates for capital gains and dividends – For single taxpayers with AGI over ___, an additional 3.8% Medicare Contribution tax will apply to capital gains to the extent that Net Investment Income exceeds the threshold.

$200,000

83

Tax rates for capital gains and dividends – For MFJ taxpayers with AGI over ___, an additional 3.8% Medicare Contribution tax will apply to capital gains to the extent that Net Investment Income exceeds the threshold.

$250,000

84

Tax rates for capital gains and dividends – For MFS taxpayers with AGI over ___, an additional 3.8% Medicare Contribution tax will apply to capital gains to the extent that Net Investment Income exceeds the threshold.

$125,000

85

AMT exemption amounts – Single

$52,800

86

AMT exemption amounts – MFJ or surviving spouse

$82,100

87

AMT exemption amounts – MFS

$41,050

88

AMT exemption amounts – Head of Household

$52,800

89

AMT exemption phaseout

25% of AMTI that exceeds the following amounts

90

Phaseout of AMT exemption – Single

$117,300

91

Phaseout of AMT exemption – MFJ or surviving spouse

$156,500

92

Phaseout of AMT exemption – MFS

$78,250

93

Phaseout of AMT exemption – Head of Household

$117,300

94

AMT tax rates – 26% on income up to

$182,500

95

AMT tax rates – 28% on income over

$182,500

96

Income tax rates: Trusts – 15%

$2,500

97

Income tax rates: Trusts – 25%

$5,800

98

Income tax rates: Trusts – 28%

$8,900

99

Income tax rates: Trusts – 33%

$12,150

100

Income tax rates: Trusts – 35%

n/a

101

Income tax rates: Trusts – 39.6%

unlimited