TFP TIDBITS
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F E B R U A R Y
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2013 Federal Tax Rate Schedule
We have had several calls from individuals looking for the new tax rates for
2013, so what better way to share them with you than right here……….
David W. Elizondo
CERTIFIED FINANCIAL PLANNER™
Schedule X—Single
If Taxable Income is over:
3475 Utica Ridge Rd.
But Not Over:
The Tax is:
Bettendorf, IA 52722
$0
$8,925
10% of the amount over $0
563-359-TRUE (8783)
$8,926
$36,250
15% of the amount over $8,925
877-359-8783
$36,251
$87,850
25% of the amount over $36,250
[email protected]
$87,851
$183,250
28% of the amount over $87,850
www.truefinancialpartners.com
$183,251
$398,350
33% of the amount over $183,250
$398,351
$400,000
35% of the amount over $398,350
$400,001
No Limit
39.6% of the amount over $400,000
INSIDE THIS ISSUE:
2013 Federal Tax Rate
Schedule
1
Dave’s Corner
2
Tiffany Talk
3
Dates to Remember
4
Disclosure
4
Schedule Y-1—Married Filing Jointly or Qualifying Widow(er)
**Note, Qualifying Widow(er) Taxes are only used in year of death
If Taxable Income is over:
But Not Over:
The Tax is:
$0
$17,850
10% of the amount over $0
$17,851
$72,500
15% of the amount over $17,850
$72,501
$146,400
25% of the amount over $72,500
$146,401
$223,050
28% of the amount over $146,400
$223,051
$398,350
33% of the amount over $223,050
$398,351
$450,000
35% of the amount over $398,350
$450,001
No Limit
39.6% of the amount over $450,000
Note: These tax rate schedules are provided so you can compute your federal
estimated income tax for 2013. To compute your actual income tax, please see
your accountant or refer to the instructions for 2013 Form 1040, 1040A, or
1040EZ when they are available.
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DAVE’S CORNER
Happy Spring! I realize it’s a little
early, but Spring should be just
around the corner and it’s the MOST
exciting time of year. Hopefully
March will come in like a lion and
out like a lamb…better yet….in like a
lamb and out like a lamb!
than what they owed the bank.
So what’s next? I believe it’s the
bond market “bubble” that will
burst. Bonds are very sensitive to
interest rates. When interest rates
drop, it causes bond values to rise.
Think about it like this….picture in
Lately on the news, people have been your mind a teeter totter. On one
talking about the Bond bubble burst- side of the teeter totter is interest
ing. What does it mean when they
rates and on the other side is bond
talk about a “bubble bursting”? That values. When one side goes up, the
term is used to describe a certain mar- other side goes down. Well, how
ket that has gone up in value to such
does the teeter totter look today?
an extreme, that it is likely it will
Interest rates (on one side of the
peak and start heading the other way. teeter totter) are extremely low,
A perfect example of that occurred in which means that the values of the
October 2007 when the Dow Jones
bonds (on the other side of the teeIndustrial Average went over 14,000. ter totter) are extremely high. In
That was much higher than it had
fact, interest rates are at a 40 year
ever been and the market couldn’t
low which suggests bond values are
support anything higher, so it reat a 40 year high. When interest
versed and went south…..WAY
rates start to go up (and they will),
SOUTH! In fact, over an 18 month
the value of the bonds will drop.
period, it dropped from 14,093 to just It’s like the interest rate jumping off
over 6,600. That’s a decline of over
the teeter totter while on the ground
50%.
and it causes the bond value to drop
to the ground, hitting with a THUD.
The next “bubble” to burst was the
It hurts my “bum” just thinking
housing market. During the last sevabout it! Anyway, you get the piceral decades, housing prices rose very ture. I don’t believe this burst is
sharply and increased to the point that coming in the near future, but I DO
most homes in America were overfeel it’s coming.
priced. It doesn’t feel that way to
most of us in the Quad Cities because As always, I am here to help you. If
our housing markets didn’t overprice you have any questions about this
like most areas. But if you look at the information or need anything,
higher priced markets around the
please don’t hesitate to call me or
country, they got extremely expencall the office to set up a visit. I
sive. Consequently, this extreme
greatly appreciate the relationship
caused the “bubble” to burst and
we have and I hope your “bubble”
housing prices plummeted. Defaults
and foreclosures skyrocketed, banks
NEVER bursts!
stopped lending, and because of the
drop in values, many people were liv- David W. Elizondo
CERTIFIED FINANCIAL PLANNER™
ing in houses that were worth less
[email protected]
TIFFANY TALK
When was the last time you received a Social Security Statement in the
mail? It’s probably been awhile. Did you know the Social Security Administration is no longer mailing statements out? Add this to another
company saving money and trees with paper and postage……….
How do you get your Social Security Statements now? Online! It’s actually fairly simple. Go to www.ssa.gov/myaccount, click on the blue
box to create an account, on the next screen click create an account,
then check the agree box and click next, enter your information answering any questions to verify who you are, set up a user name and password, and walah your statement will be listed for you to view and/or
print.
PAGE 3
Need a Notary,
Give Tiffany
a Call.
Do you need your Social Security Statement? Yes. Reviewing your information to assure it is correct each year makes it easier when it comes
time for collecting your benefits. If you are nearing retirement, the information is very helpful when planning your actual retirement age and
income you may be receiving from Social Security. You never know,
you may be ready to retire after you sign up and receive your statement!
Switching gears……….Have you filed your taxes yet? If not, the clock
is ticking. Please do not wait until the last minute to file. If you have
any questions or need any information from us, please give us a call as
soon as possible. If you wait too long to contact us, we may not be able
to get your questions answered in time to file without requesting an extension to file your taxes.
Has anything changed in your life recently? New email, new phone
number, new address, have you cancelled your home phone number,
etc. Have you called us with your new information? If not, please give
our office a call. We take great pride keeping our records up to date.
Nicole, our Administrative Assistant, handles all of our Account
changes, so if you have recent changes in your life, she would be more
than happy to assist you with updating your Accounts.
****OLD CELL PHONES**** The Davenport Breakfast Lions Club
is holding a fundraiser collecting old cell phones. If you have any old
cell phones you are not using and would like to donate them, we are
taking up a collection in our office for them. Please feel free to send
them in or drop them off to our office. And thinking of charitable contribution deductions—you may be able to add this to your list of deductions for 2013. Never hurts to get started for the year!
Tiffany L. Hunt
Chief Compliance Officer & Manager of Operations
[email protected]
If you are receiving
your newsletter via
postal, and would
prefer to receive it
by email or vice
versa, please let us
know and we will
make the change
for you .
PAGE 4
EDUCATIONAL CLASSES COMING SOON
WATCH FOR EMAILS & LETTERS
WITH MORE INFORMATION
Spa Day with the TFP Girls—Postponed
Once a new date is scheduled, we’ll be in touch.
Paris/London Group Trip—Postponed
We did not have enough calls regarding this trip. If you are interested in
participating in a future trip with us, please let us know where
you would like to go and we’ll see if It is available.
TFP WORD PUZZLE
F E D
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Find the following words and the leftover letters provide a
message from us!
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1. ACCOUNT
2. ACCOUNTANT
3. ASSETS
4. CAPITAL GAINS
5. CONTRIBUTION
6. COMPOSITE
7. COST BASIS
8. DEDUCTION
9. DISTRIBUTION
10. DIVIDEND
11. EQUITY
12. EXEMPT
13. EXTENSION
14. FEDERAL
RETURN
15. FEES
16. FUND
17. INCOME
18. INTEREST
19. INVESTMENTS
20. IRS
21. PAYMENT
22. SAVINGS
23. SECURITIES
24. STATE TAX
RETURN
25. TAX RETURN
26. TRUST
27. WAGES
This newsletter contains general information that is not suitable for everyone. The information contained herein should not be construed as
personalized investment advice. Past performance is no guarantee of future results. There is no guarantee that the views and opinions
expressed in this newsletter will come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors.
Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security.