Pronto Tax School Newsletter
Renew CTEC.com | Tax News Update | January 2013
FEDERAL UPDATE 2013
Here is a small taste of the kind of tax update information you will get when you buy our 20 hour tax update course.
Effective for Tax Year 2013:
A top tax rate of 39.6% (up from 35%) will be imposed on individual making more than $400,000 a year, $425,000 for head of household, and $450,000 for married filing joint.
The 2% Social Security tax reduction is now history (ended 12/31/2012).
The maximum capital gains tax will rise from 15% to 20% for individuals taxed at the 39.6% rates (those making $400,000, $425,000, or $450,000 depending on filing status, as noted above).