Tag: deduction

2020 vs 2019 Federal IRS Tax Brackets, Tax Rates and Standard Deduction Updates

[Updated with 2020 Tax Brackets] Below are the official 2020 IRS tax brackets. Note that the updated tax rates and brackets would only apply for the 2020 tax year (filed… Read more »

2013 Tax Changes, Credits and Impacts You Need to Be Aware of When Filing Your Tax Return in 2014

[Updated for 2013-2014 tax filing season] Thanks to the so called fiscal cliff deal reached last year there were a number of impacts to taxes in 2013 which you need… Read more »

2012 vs. 2013 IRA Maximum Contribution, Income and Deduction Limits Factoring in Employer Coverage Restrictions

I’ve written a fair bit on tax-advantaged individual retirement plans, but still keep getting lots of questions on this topic. This is likely due to two main factors. One, thanks… Read more »