Taxes

Social security taxable wage limit increased from 2013 limit of $ 113,700 to $ 117,000.  Retirees under full retirement age can earn up to $15,480 without losing benefits. 401 (k) maximum salary deferral is $ 17,500 with a catch-up limit for 50 and older at $ 5,500. IRA contribution limit is $ 5,500 and $6,500…

Your 2013 tax returns processing will be held up again by the IRS for the second year in a row.  Mind blowing issues face us with the Affordable Care Act, a number of expiring tax provisions being held hostage by Congress and personal tax exemption phase-outs and limits on itemized deductions for many people.  Many…

Did you know the IRS is matching 1099 forms to your income tax returns?  Many times the matching turns up a discrepancy that is not your fault.  Or, the IRS has not matched the amended 1099 to your return.  Some businesses are on a fiscal year end and the 1099 is on a calendar year…

Have you received (or your family or friends) an IRS notice that the “tone” of the letter accused you of something that seems very harsh?  DO you feel like you are the enemy?  Many companies and individuals have received letters and are upset with the tone of the letters.  The IRS demands a full response…