2013 Tax Planning Updates. .
Planning is the key to hit your target. Consider these tax planning updates to start planning your 2013 tax year.
* SOCIAL SECURITY taxable wage limit increases from 2012
* 401(k) MAXIMUM salary deferral increases from 2012
* SIMPLE maximum deferral increases from 2012 limit of
* IRA CONTRIBUTION limit increases from 2012 limit of
* HSA CONTRIBUTION limit increases to $3,250 for
* KIDDIE TAX threshold increases from 2012 level of
* ANNUAL GIFT TAX EXCLUSION increases from 2012 limit
To take advantage of these deduction, make sure you follow your plan and rules. If you have questions please donít hesitate to call my office to discuss them.
Thomas Urquilla, E.A.