Key Financial Data for 2012 …at your fingertips. Check out this handy reference. No need to search for answers, no need to wonder.
Your one-stop shop for 2012:
- federal income tax rates
- federal gift tax exclusion
- Social Security maximum benefits and tax rate
- IRA and other retirement plan contribution limits
- and more
| Key 2012 Financial Data/Limits |
| Individual Income Tax Rates |
10%, 15%, 25%, 28%, 33%, 35% |
| Long-Term Capital Gains Tax Rates |
0%, 15% |
| Federal Annual Gift Tax Exemption |
$13,000 per donor per recipient |
| Federal Lifetime Gift Tax Exclusion |
$5,120,000 |
| Federal Estate Tax Exclusion |
$5,120,000 |
| NYS Estate Tax Exclusion |
$1,000,000 |
| Maximum Social Security Benefit |
$2,513/month |
| Social Security Tax Income Limit |
$110,100 |
| Social Security Tax up to Limit |
4.2% |
| Medicare Tax |
1.45% |
| Contribution Limits: |
|
| Defined-Contribution Plans |
$50,000 |
| 401(k)/403(b)/457(b) Plans |
$17,000 |
Catch-Up, age 50 or higher
|
$5,500 |
| SIMPLE Plans |
$11,500 |
Catch-Up, age 50 or higher
|
$2,500 |
| IRAs, Roth IRAs |
$5,000 |
Catch-Up, age 50 or higher
|
$1,000 |