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2020 Key Numbers

2020 Key Numbers

| December 10, 2019
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2020 Key Numbers

 

Individual Income Tax Planning
Alternative Minimum Tax (AMT), child tax credit, earned income tax credit, itemized deductions, kiddie tax, personal exemptions, and more.

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2020 Federal Income Tax Rate Schedules (Individuals, Trusts, and Estates)
Tax rates for all filing statuses.

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2019 Federal Income Tax Rate Schedules (Individuals, Trusts, and Estates)
Tax rates for all filing statuses.

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Business Planning
Earnings subject to FICA taxes, Section 179 expensing, standard mileage rate, and more.

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Education Planning
Coverdell education savings account limits, education loan interest deduction limits, American Opportunity and Lifetime Learning Credits, and more.

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Protection Planning
Eligible long-term care premium deduction limits, Archer Medical Savings Accounts, and Health Savings Accounts (HSAs).

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Estate Planning
Annual gift tax exclusion, estate tax applicable exclusion amount, gift tax applicable exclusion amount, GSTT exemption, and more.

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Government Benefits
Social Security, Medicare, and Medicaid.

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Retirement Planning
Elective deferral limits, IRA contribution limits, additional "catch-up" limits, traditional deductible IRA and Roth IRA compensation limits, and more.

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Investment Planning
Tax rates on long-term capital gains and dividends, additional Medicare contribution tax on unearned income.

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Refer a friend

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.

The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal advisor.

LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.

This communication is strictly intended for individuals residing in the state(s) of AL, AZ, CA, CO, CT, FL, GA, IL, IN, LA, ME, MD, MA, MI, MS, NE, NV, NH, NY, NC, OH, PA, RI, SC, TX, VT, VA and WA. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2019.

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