Year-end tax planning for investments

While tax consequences should never drive investment decisions, it’s critical that they be considered — especially this year: Higher-income taxpayers may face more taxes on their investment income in the form of the returning 39.6% top short-term capital gains rate…

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2014 Tax Rates and Miscellaneous Adjusted Numbers

  • November 4, 2013
  • Tax

The IRS has announced a list of tax rates and deduction levels for 2014 that have been adjusted for inflation. Here's the list: The tax rate of 39.6 percent affects singles whose income exceeds $406,750 ($457,600 for married taxpayers filing…

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2014 Dollar Limits for Retirement Plans

On October 31, the IRS announced 2014 dollar adjustments for retirement plans. Here's the list: 401(k), 457 Plans The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan…

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Social Security Wage Base for 2014

The Social Security Administration (SSA) announced on Wednesday, October 30, 2013, that the 2014 social security wage base will be $117,000, an increase of $3,300 from the 2013 wage base of $113,700. As in prior years, there is no limit…

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