Scribd Logo
Upload

Welcome to Scribd!

  • Reg Notes CPA

    Uploaded by

    Adam James
    2K views1 page
    Single taxpayers have a standard deduction of $6,100 and married filing jointly taxpayers have a standard deduction of $12,200 for 2013. The 2013 personal exemption is $3,100. Cash basis accounting is allowed for individual taxpayers owning a business but not for corporations, partnerships with a C corporation partner, or inventories. Deductions that can be taken to arrive at adjusted gross income include self-employed SEP, SIMPLE, and qualified plan contributions, self-employed health insurance premiums, investment penalties for early withdrawal, alimony paid, IRA deduction, student loan interest if not a dependent of another taxpayer, teacher expenses, moving expenses, and tuition expense but not if also claiming AOTC or Lifetime Learning

    Original Description:

    CPA

    Original Title

    Reg notes CPA

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Single taxpayers have a standard deduction of $6,100 and married filing jointly taxpayers have a standard deduction of $12,200 for 2013. The 2013 personal exemption is $3,100. Cash basis accounting is allowed for individual taxpayers owning a business but not for corporations, partnerships with a C corporation partner, or inventories. Deductions that can be taken to arrive at adjusted gross income include self-employed SEP, SIMPLE, and qualified plan contributions, self-employed health insurance premiums, investment penalties for early withdrawal, alimony paid, IRA deduction, student loan interest if not a dependent of another taxpayer, teacher expenses, moving expenses, and tuition expense but not if also claiming AOTC or Lifetime Learning

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    2K views1 page

    Reg Notes CPA

    Uploaded by

    Adam James
    Single taxpayers have a standard deduction of $6,100 and married filing jointly taxpayers have a standard deduction of $12,200 for 2013. The 2013 personal exemption is $3,100. Cash basis accounting is allowed for individual taxpayers owning a business but not for corporations, partnerships with a C corporation partner, or inventories. Deductions that can be taken to arrive at adjusted gross income include self-employed SEP, SIMPLE, and qualified plan contributions, self-employed health insurance premiums, investment penalties for early withdrawal, alimony paid, IRA deduction, student loan interest if not a dependent of another taxpayer, teacher expenses, moving expenses, and tuition expense but not if also claiming AOTC or Lifetime Learning

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 1

    2013 Standard Deduction

    Single - $6,100
    MFJ - $12,200
    2013 Personal Exemtion
    $3,!00
    "as# $asis %ccounting- is allo&ed 'or (ndi)idual *axa+ers o&ning a $usiness
    *#e "as# $asis %ccounting is not allo&ed 'or "ororations, Partners#is &it# a "-"or Partner,
    nor iis it allo&ed 'or (n)entor+,
    Deductions to %rri)e at %d-usted .ross (ncome /%.(0
    MS%12%S "ontri3utions
    Mo)ing Exenses
    Deducti3le art o' Sel'-Emlo+ment *ax
    Sel'-Emlo+ed SEP, S(MP4E, and 5uali'ied Plans
    Sel'-Emlo+ed 2ealt# (nsurance Premiums
    (n)estment enalties 'or earl+ &it#dra&al
    %limon+ aid
    (6% Deduction
    Student 4oan (nterest 7 can8t 3e anot#er taxa+er8s deendent,
    *eac#er exenses
    Mo)ing Exenses
    *uition Exense 7 "an8t also claim %9" or 4i'etime 4earning "redit 'or same exenditures

    You might also like