What is the personal exemption for 2012?
$3,800
For 2012 the personal exemption is $3,800, and the standard deductions are: $5,950 for single taxpayers and married taxpayers filing separately, $11,900 for married taxpayers filing jointly, and. $8,700 for taxpayers filing as head of household.
What was the standard deduction for 2012?
Standard Deduction Amounts
| Year | Married filing jointly and surviving spouses | Single filers |
|---|---|---|
| 2012 | $11,900 | $5,950 |
| 2013 | $12,200 | $6,100 |
| 2014 | $12,400 | $6,200 |
| 2015 | $12,600 | $6,300 |
How much money did the 2012 Olympics make?
Table
| Host City | Year | Profit/Loss |
|---|---|---|
| Vancouver Winter Olympics | 2010 | CDN$ 1,900,000 |
| London Summer Olympics | 2012 | GBP £nil |
| Sochi Winter Olympics | 2014 | US$53,150,000 |
| Rio de Janeiro Summer Olympics | 2016 | US$2.0 billion |
How much did it cost to host the London 2012 Olympics?
The Olympic Stadium (at left) and Aquatic Centre at the 2012 Olympic Park in London, England, contributed to those games’ $14.8 billion price tag. Please be respectful of copyright.
What was the tax rate in 2012?
Federal Income Tax Brackets for 2012
| Tax Bracket | Married Filing Jointly | Single |
|---|---|---|
| 10% Bracket | $0 – $17,400 | $0 – $8,700 |
| 15% Bracket | $17,400 – $70,700 | $8,700 – $35,350 |
| 25% Bracket | $70,700 – $142,700 | $35,350 – $85,650 |
| 28% Bracket | $142,700 – $217,450 | $85,650 – $178,650 |
What was the standard tax deduction for 2016?
$6,300.00
Standard Deduction and Personal Exemption
| Filing Status | Deduction Amount |
|---|---|
| Single | $6,300.00 |
| Married Filing Jointly | $12,600.00 |
| Head of Household | $9,300.00 |
| Personal Exemption | $4,050.00 |
What happens to the standard deduction in 2026?
Under the Tax Cuts and Jobs Act for the tax years beginning after December 31, 2017 and before January 1, 2026, the standard deduction has been increased for each filing status: $24,000 for married individuals filing a joint return, $18,000 for head-of-household filers, and $12,000 for all other taxpayers.
Do cities lose money in the Olympics?
The average overrun is 172%, according to Oxford University. From bridges and dams to roads and reservoirs, no other category of megaproject has such a miserable record. No city in the modern era has ever profited from hosting the Olympics, except for Los Angeles in 1984.
How much did the 2012 Olympics opening ceremony cost?
approximately $42 million
The opening ceremony for the 2012 Olympics is estimated to have cost approximately $42 million. The event will be watched by many around the world in an effort to support their country and their athletes.
What are the disadvantages of hosting the Olympics?
The Olympics are a financial drain on host cities. The Olympics force host cities to create expensive infrastructure and buildings that fall into disuse. The Olympics displace and burden residents of the host country and city.
What has been the highest tax rate in US history?
94 percent
World War II In 1944, the top rate peaked at 94 percent on taxable income over $200,000 ($2.5 million in today’s dollars3). That’s a high tax rate.
What was the tax rate in 2013?
Income Tax Slab & Deductions FY 2013-14
| For Men below 60 years of age | For Senior Citizens (Age 80 years or more) | |
|---|---|---|
| Rs. 2,00,000 | Nil | Nil |
| Rs. 2,00,001 – Rs. 500,000 | 10% | 20% |
| Rs. 500,001 – Rs. 10,00,000 | 20% | 30% |
| Above Rs. 10,00,000 | 30% |
Are IRA contributions tax deductible in 2020?
Contributions to a traditional IRA, which is the most common choice, are deductible in the tax year during which they are paid. You won’t owe taxes on the contributions or their investment returns until after you retire. For 2019 and 2020 there’s a $6,000 limit on taxable contributions to retirement plans.
Who can contribute to an IRA and take the deduction?
Anyone can contribute to an IRA, but whether or not you can take the deduction depends on your modified adjusted gross income (AGI) and whether you or your spouse have an employer-sponsored retirement plan — such as a 401 (k), 403 (b) or pension.
What is the traditional IRA deduction limit?
Traditional IRA Deduction Limits. In other words, if your income is below these levels, you can make the maximum contribution and it will be fully deductible. If your income is in between these levels ($63,000 to $73,000 for singles, for example), your contribution will be partially deductible.
Do I have to itemize my taxes to claim the IRA deduction?
Simply because you qualify for IRA contributions doesn’t mean you qualify for the IRA deduction. Your eligibility hinges on your income and whether or not you or your spouse have a workplace retirement plan. The good news is, if you qualify, you don’t have to itemize your taxes to claim it.