Official 2013 Federal Income Tax Brackets

Official 2013 Federal Income Tax BracketsI‘ve been working on some tax planning this week in preparation for a meeting with my accountant. And that prompted me to look up the 2013 federal income tax brackets. I knew they had gone up for the top brackets, so I wasn’t exactly excited about this whole thing.

I’ve created a table below with the official brackets.

The final figures for the 2013 Income Tax Brackets have been confirmed by the IRS. Until this year, the tax rate structure had been in place since 2003 and consisted of 6 rates: 10%, 15%, 25%, 28%, 33% and 35%. For 2013, the government added a 7th rate, 39.6%. Basically, if you are the in the top two brackets, expect your taxes to go up.

Tax RateSingle filersMarried filing jointly
or qualifying widow/widower
Married filing separatelyHead of household
10%Up to $8,925Up to $17,850Up to $8,925Up to $12,750
15%$8,926 - $36,250$17,851 - $72,500$8,926- $36,250$12,751 - $48,600
25%$36,251 - $87,850$72,501 - $146,400$36,251 - $73,200$48,601 - $125,450
28%$87,851 - $183,250$146,401 - $223,050$73,201 - $111,525$125,451 - $203,150
33%$183,251 - $398,350$223,051 - $398,350$111,526 - $199,175$203,151 - $398,350
35%$398,351 - $400,000$398,351 - $450,000$199,176 - $225,000$398,351 - $425,000
39.6%$400,001 or more$450,001 or more$225,001 or more$425,001 or more

And if you’re still focused on taxes for prior years–

Related: Here are the current year tax brackets

The other related information the IRS has confirmed are the standard deductions.

With this information, you will know what type of deduction you can expect if you take the standard deduction. Here is what we have for 2013:

  • The standard deduction for single filers will rise to $6,100.
  • The standard deduction when married and filing jointly will rise to $12,200.

When it comes to exemptions, for 2013 the personal and dependency exemption will increase to $3,900.

Topics: Taxes

One Response to “Official 2013 Federal Income Tax Brackets”

  1. Nice post Rob. The need for year end tax planning is even more acute this year due to not only tax bracket changes, but also the 3.8 surcharge, changes in capital gain rates and the return of limitations on itemized deductions and exemptions for those above certain thresholds as well as other tax law changes. Taxpayers may be rudely surprised at their tax bills come April 15.

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