Investment and Finance

Wages, unemployment compensation; operating income from a nonpassive business, Social Security Benefits, alimony, tax-exempt interest, self-employment income and distributions from certain Qualified Plans.

In general, investment income includes, but is not limited to: interest, dividends, capital gains, rental and royalty income, non-qualified annuities, income from businesses involved in trading of financial instruments or commodities, and businesses that are passive activities to the taxpayer.
To calculate your Net Investment Income, your investment income is reduced by certain expenses properly allocable to the income

Individuals will owe the tax if they have Net Investment Income and also have modified adjusted gross income over the following thresholds:
Married Filing jointly & Qualifying widow(er) $250,000
Single or Head of Household $200,000
Married filing separately $125,000

Employer contributions to the HSA of a qualified individual (determined monthly) are exempt from federal income tax withholding, social security tax, Medicare tax, and FUTA tax.
For 2013, the employer can contribute up to $3,250 for self-only coverage or $6,450 for family coverage to a qualified individual's HSA.
HSA holders 55 and older get to save an extra $1,000 which means $4,250 for an individual and $7,450 for a family) - and these contributions are 100% tax deductible from gross income.
Minimum annual deductibles are $1,250 for self-only coverage or $2,500 for family coverage. Annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) cannot exceed $6,250 for self-only coverage and $12,500 for family coverage.

IRA (Traditional or Roth) Deadline to establish the plan and the Deadline to fund the plan is April 15th of the following year.
SEP IRA - Deadline to establish the plan is the due date of the tax return, including extensions and the Deadline to fund the plan is due date of the tax return, including extensions.
Simple IRA - Deadline to establish the plan is October 1st of that year and the Deadline to fund the plan for the Employee contributions must be withheld from pay by December 31st and remitted to the investment firm as soon as reasonably possible and the Employer contribution must be made by the tax return due date, including extensions.
401-K or 403(b)- Deadline to establish the plan is October 1st of that year for safe harbor plans, otherwise December 31st of that year. Deadline to fund the plan for the Employee contributions must be withheld from pay by December 31st and remitted to the investment firm as soon as reasonably possible and the Employer contribution must be made by the tax return due date, including extensions.
Defined Benefit Plans and Profit Sharing Plans and Keough Plans must be set up by Dec 31st of that tax year.

The limit on employee elective deferrals is $17,500 for 2013. $17,000 for 2012 and $23,000 if age 50 or older ($22,500 in 2012)
The catch up contribution limit for employees 50 and over remains unchanged at $5,500.
Generally, all elective deferrals made to all plans in which you participate are aggregated to determine if you have exceeded these limits.

IRA Contributions $5,500 - IRA Catch-up Contributions $1,000 - Defined Benefit Plan Benefit $205,000 - Defined Contribution Plan Allocation $51,000 - 401(K) or 403(b) Salary reduction deferrals $17,500 - 401(k) or 403(b) Catch-up Contributions $5,500 - SIMPLE plans $12,000 - SIMPLE plan Catch-up Contributions $2,500 - Salary for pension plan $255,000 - Salary for highly compensated employee $115,000 - Salary for Key employee $165,000 - Salary for SEP eligibility $550 - Social Security Taxable Wage base $113,700 -

In 2013, For filing status of: single, head of household and married filing separately not living with your spouse the phase-out amount starts at $59,000 and ends at $69,000 with no deduction for MAGI more than $69,000.
For married filing jointly or qualifying widow (er)and both were covered by a retirement plan, the phase-out amount starts at $95,000 and ends at $115,000 with no deduction for MAGI more than $115,000.
For married filing jointly or qualifying widow (er)and one was covered by a retirement plan, the phase-out amount starts at $95,000 and ends at $114,999 with no deduction for MAGI more than $115,000. The uncovered spouse uses $178,000 and ends at $188,000 with no deduction for MAGI more than $188,000.
For married filing jointly or qualifying widow (er)and both were not covered by a retirement plan, the phase-out amount starts at $178,000 and ends at $188,000 with no deduction for MAGI more than $188,000.
For married filing separately the phase-out starts at 0 and ends at $10,000 with no deduction for MAGI more than $10,000

For the current year years, the alternative minimum tax exemption for a child subject to the Kiddie Tax is limited to the sum of (1) the child's earned income for the taxable year, plus (2) $7,050.