Are Your Social Security Benefits Taxable?

Archive for December 2014

Are Your Social Security Benefits Taxable?

Some people must pay taxes on part of their Social Security benefits. Others find that their benefits aren’t taxable. If you get Social Security, we can help you determine if some – or all – of your benefits are taxable. Here are five tips about how Social Security affects your taxes: 1. If you receive…

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Six Tips for Year-End Gifts to Charity

If you’re thinking about making a charitable donation during the holiday season this year and want to claim a tax deduction for your gifts, you must itemize your deductions. This is just one of several tax rules that you should know about before you give. Here’s what else you need to know: 1. Qualified charities. You…

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Retirement Contributions Limits Announced for 2015

The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2015. In general, many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain…

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2014 Tax Provisions for Businesses: A Review

Whether you file as a corporation or sole proprietor here’s what business owners need to know about tax change for 2014. Standard Mileage Rates  The standard mileage rates in 2014 are as follows: 56 cents per business mile driven, 23.5 cents per mile driven for medical or moving purposes, and 14 cents per mile driven…

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2014 Tax Provisions for Individuals: A Review

From tax credits and educational expenses to the AMT, many of the tax changes affecting individuals for 2014 were related to the signing of the American Taxpayer Relief Act (ATRA) in 2013–tax provisions that were modified, made permanent, or extended. With that in mind, here’s what individuals and families need to know about tax provisions…

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