Today we will review some tax rate changes and new taxes for the 2013 tax year. A new top individual tax rate of 39.6% is imposed on taxable income over $400,000 for single filers and $450,000 for married taxpayers filing jointly. The personal exemptions and itemized deductions phase-out is reinstated at a higher threshold of $250,000 for single taxpayers and $300,000 for married taxpayers filing jointly. A 20% rate applies to capital gains and qualified dividends for individ