2018 vs 2017 Roth IRA Contribution and Income Limits plus Conversion Rollover Rules


[Updated with 2018 Roth IRA limits] The latest income phase out ranges for the deductibility of Roth IRA contributions are shown in the table below. You may be able to contribute to a Roth IRA for yourself or your spouse if you have earned income within or below the following thresholds. Looking to open your first IRA […]

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Tax Filing Deadline and Due Dates – When You Can File Tax Returns and Get Your Refund


Generally you can paper file your tax return on January 1st of the following year. But if, like most tax payers, you file an electronic return (e-file) you can only submit your return to the IRS in late January, which is when the IRS starts accepting electronic returns. For most people this time frame is […]

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2017-2018 Estate Tax Changes and Exemption Extension


[Update] – As part of the 2018 Trump tax reform package there is a big push to get the Estate tax fully repealed or raise existing exemption levels. Provisions around this are being debated in Congress and you can get the latest updates in this article. ______ A change to the estate tax exemption was recently […]

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401k, 403b, IRA Contribution and Income Limit Changes from Officially Released by IRS


[Update] You can now see the most up-to-date 401K/403b, IRA and Roth IRA limits here _____________________ The IRS has released the latest 401k, 403b, IRA and other retirement/thrift plan contribution and income limits. With COLA remaining unchanged again this year, 2011 plan limits have also remained largely unchanged for the third year in a row. Income thresholds have marginally […]

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2011 Social Security Tax Rate and Witholding – SSI Limits, Coverage, Retirement Earnings and Benefit Base Limit Changes


Updates – For 2012, the SSA has announced a 3.6 percent cost-of-living adjustment (COLA) increase. For 2013, the COLA increase was 1.7%. ____________ The Social Security Administration has officially released the 2011 Social Security and SSI information against the background announcement that there will be no cost-of-living adjustment (COLA) increase next year. The zero COLA adjustment […]

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Updates: Claiming Home Buyer Credit Extension, Small Business Loans and Tax Breaks Plus $250 SSI Payment


I wanted to provide a few updates on some of the more popular topics on this site given recent developments. You can click on the topic header to get more details. Home Buyer Tax Credit Extension (again) and Claiming It : One of the most popular topics on this site, the many articles I have […]

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2010 Obama Health Care Rules Effective Now – Under 26 Dependent and Pre-existing Conditions Coverage


With the passage of health care reform, a major political achievement for the Obama administration, Americans will finally start seeing the actual impacts of many of these new laws. These changes will only initially impact people who buy new policies or are in plans where the coverage year is about to expire. But by 2011 most […]

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2011 Tax Brackets, Rates and Federal Taxable Income Thresholds. Standard Deduction and Exemption Increase


President Obama and Congress have approved a two year extension to all the Bush-era tax cuts. This means that the 2011 Federal IRS tax rates will be the same as 2010 rates, shown in the table below. However tax bracket ranges and standard deduction levels have increased slightly. A rise in tax rates would have cut the […]

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US Economic Outlook – Strong Growth Expected as Recession Fades. GDP Growth Continues At Slower Pace


[2011 Outlook] So what will 2011 look like for the US and global economy? 2010 was a year of recovery, but it was sputtering and many questioned whether the recovery was real and if it could be sustained. As we head in to 2011 things are looking brighter following a booming stock market (up 13%), […]

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2016 vs 2015 Standard IRS Mileage Rates For Business, Medical, Moving and Charity – Tax Deduction Rules

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[Updated with latest 2016 IRS rates]  Standard mileage rates used to calculate the deductible costs of operating a car (includes vans, pickups or panel trucks) for business, charitable, medical or moving purposes are shown in the table below. These are effective from Jan. 1. The business, medical, and moving expense rates increase and decrease annually depending on the […]

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