Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2013, compared with 2012, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more.
The following table provides some important federal tax information for 2013, compared with 2012. Some of the dollar amounts change due to inflation. Other amounts are changing due to legislation.
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