Tax Preparer Shares Changes You'll See When Filing Your 2013 Taxes
OMAHA(KPTM)-The IRS just started accepting tax returns after a delay due to the government shutdown. Now those who have had to wait to file, may also find Uncle Sam's taking a bigger cut. One Omaha tax preparer shares a few things that you might want to know about 2013 tax deductions.
For tax preparer Rachel Murley, it's been a busy Sunday. "Early February is definitely the busiest time for us, generally because people want to come in and file their forms and get their refunds," said Murley, who works for an Omaha branch of Jackson Hewitt Tax Services and has been preparing returns for nearly a decade.
Murley says she's gotten a lot of questions about what you can and can't deduct on your 2013 taxes. One big change, she says is the amount of medical expenses one is required to incur before they get a tad break. "In years past, people would be able to deduct anything that was more than seven point five percent of their adjusted gross income, now this year that has raised to ten percent of the gross income," said Murley who added that for some people that extra two and a half percent can make a big difference.
Murley says a few other things that changed in 2013 include an increase of .9% in Medicare tax for those who earn more than $250,000, and an increase in capital gains taxes, which used to be capped at 15%.
But there are some winners here. The 2013 tax season has gay couples able to file joint returns federally for the first time, and also in Iowa.
The deadline for this year's filings is Tuesday, April 15th. That includes extensions.