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In 2013, A taxpayer is allowed a 10-percent nonbusiness energy property credit for the purchase of qualified energy efficiency improvements to existing homes
There is a limitation of $500 on the total amount of nonbusiness energy property credit that may be claimed. This limitation is a lifetime limitation, not an annual limitation.
This credit was to expire with respect to any property placed in service after December 31, 2011. ATRA, Sec. 401, extends the availability of the credit to property placed in service before January 1, 2014.
In 2013 are 30% tax credits on large energy installation projects that are geared towards environmental aware taxpayers. They include geothermal heat pumps (no upper limit, both principal residences & second homes apply). Solar energy systems (no upper limit, both principal residences & second homes apply). Small wind turbines (no upper limit, both principal residences & second homes apply). Fuel cells (up to $500 per .5 kW of power capacity and for Principal residences only).

The AGI phase-out range for tax payers making contributions to their Roths is between $173,000 and $183,000 for jointly filing couples, a $3,000 increase from 2011. The same increase is true for singles filing. The range is $110,000 to $125,000.
Married individual who file separately and have been actively participating in an employer-sponsored retirement plan should see no changes in the phase-out range. It stayed the same as the previous year: $0 to $10,000.

For each quarter of coverage the Earnings needed to earn one Social Security Credit is $1,160 ($1130 in 2012)

If you retire in 2013, the maximum benefit for a worker retireing at full retirement age is $2,533 a month = $30,396 a year. ($2,513 a month in 2012, $30,156 a year),
If you are age 62 in 2013 the maximum you would receive is $1,923, $23,076 a year.
If you are age 70 in 2013 the maximum you would receive is $3,350, $40,020 a year.

Bonus Depreciation In order to stimulate the economy Congress has enacted special bonus depreciation in the year of acquisition for certain purchases of new tangible personal property.
For qualified property acquired and placed in service in 2016, a 50% bonus first-year depreciation allowance applies under Code Sec. 168(k).

The rates will be:
Three percent for overpayments – two percent in the case of a corporation;
Three percent for underpayments ;
Five percent for large corporate underpayments; and
One-half percent for the portion of a corporate overpayment exceeding $10,000.
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus three percentage points.

Report gain or loss on the sale of depreciable property on Form 4797.
The gain realized on the sale of depreciable personal property (Section 1245 property) is treated as Ordinary income to the extent the gain is atrributed to depreciation that reduced basis.

Section 1231 transactions are reported on Form 4797 part 1.
A partial list of of Section 1231 transactions include Sales or exchanges of :
real or depreciable property used in a trade or business and held more than 1 year.
Timber, Coal, Cattle Horses or Livestock.

A partial list of transactions include:
ordinary gains and losses from property held 1 year or less.
Losses from qualifying abandonment of business or investment property.
Losses of Section 1244 Small Business Stock
Losses of Small Business Company Stock
sales of Preferred Stock
Deferred gain from Qualifying Electric Transmission Property

A partial list of transactions include:
Section 1245 Property including depreciable Personal and Real Property
Section 179 deduction
A Single purpose agricultural or horticultural structure
A nonpetroleum storage facility
Clean Fuel vehicles
Section 1250 property inclusive of depreciable real property when an accelerated depreciation method was used
Real property when ACRS depreciation method was used
disposition of certain Farmland
gain on dispositions of Oil and Gas properties that included depletion and IDC expenses