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Three Tax Changes for Investors in 2013

Here are three important tax changes to be aware of this year.

  1. The top tax rate on ordinary income (including short-term capital gains) increases from 35% to 39.6% for single filers with taxable income above $400,000 and joint filers above $450,000.
  2. The maximum tax rate on long-term capital gains increases from 15% to 20% for investors in the top income tax bracket.
  3. A 3.8% surtax applies to the lesser of “net investment income” (NII) or the amount by which your modified adjusted gross income (MAGI) exceeds $200,000 for single filers and $250,000 for joint filers.

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When we started One Source Manufacturing in 1997, we quickly went through two to three accounting firms without much success. Then we found Glass & Company and have been with them ever since. There are very few CPA firms in the Austin area that have the capability to service manufacturing companies. Glass & Company has a thorough understanding of the challenges that manufacturers face and the expertise to handle it all.””

– Kevin Shipley, One Source Manufacturing

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