January 15, 2013 – The Special Tuesday Report – Even More New Tax Law Charts From Gassman Law Associates, P.A. Featuring Revenue Procedure 2013-15 Numbers As Released Friday, January 11, 2013


Featuring Revenue Procedure 2013-15 Numbers
As Released Friday, January 11, 2013

We thank all of our readers for providing great comments and suggestions regarding our charts on the new tax laws.

The IRS released Revenue Procedure 2013-15 on Friday. The Revenue Procedure provides the actual tax rate bracket adjustments resulting from inflation, so we finally have exact income tax tables for 2013.

We have done our best to take these into consideration, but doubtlessly there will be minor adjustments, and several readers winning KFC gift certificates for their helpful suggestions. Please send comments and suggestions to Agassman@gassmanpa.com.

However, all of these charts are certainly suitable to explain how these new rules work, and for budgeting and conceptual purposes.

We are enclosing both improved versions of the charts we transmitted on Thursday and new charts, which are as follows:

1. A graphical discussion of the different ways that an S corporation can distribute monies and tax bracket differences between 2012 and 2013

2. A protective trust explanation chart showing a $5,250,000 exemption amount with generation skipping and non-generation skipping trusts with the increasing exemption and CPI going forward

We thank the following individuals for giving us some very helpful comments and corrections for the charts that we sent last week and the charts published on Leimberg Services.

Sarah W. Daniel
Lester B. Law
Rob Cordeau, CFP
Kyle Lodder, CPA
Jeffrey Folkman
Alan Daniels
Alan Hyde
Mark Wilson, APA, CFP
Tim Hanford
Thomas W. Bassett, JD/CPA
Helen Huntley
Linda C. Knierim
David Archer

They each win Kentucky Fried Chicken gift certificates that can be used for the buffet and free drink refills or just mashed potatoes and gravy if you prefer. .

Hats off to Colonel Sanders for beginning his career at age 65!

And to our incredible law student clerks for all they do for us!

Have a great week!