Tax
Important Tax NumbersThere are lots of important numbers that Clear Skies Planning & Wealth keeps in mind. In some cases, the numbers are annual limits that change each year. Other times, the figures do not often change, but are used by many of our clients. Given the variety of sources that report relevant numbers, it can be difficult to quickly find the right figure(s) you are looking for.
As a result, our team utilizes this two-page “Important Numbers” summary guide. This quick reference guide covers the most important annual limits as well as figures that are commonly referred to during the year. It includes:
- Tax rates for MFJ, Single, and Estates/Trusts
- Alternative Minimum Tax (AMT) annual limits
- Long-Term capital Gains (LTCG) rates for Married Filing Jointly (MFJ), Single, and Estates/Trusts
- Standard deductions for MFJ and Single
- Social Security annual limits (including earning limits)
- Full Retirement Age chart
- Social Security taxation summary for MFJ and Single
- IRMAA (Income-Related Monthly Adjustment Amount) surcharges for Medicare payments
- Retirement plan annual limits
- Traditional and Roth IRA annual limits
- Education tax credits
- Uniform Lifetime Table (abbreviated version)
- Single Lifetime Table (abbreviated version)
- Estate and gift tax annual limits
- Health Savings Account (HSA) annual limits
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