News & Resources

Archives: December 2013

With the new year upon us, it’s time to start thinking about 2014 retirement plan contributions. Contributing the maximum you’re allowed to an employer-sponsored defined contribution plan is likely a smart move: Contributions are typically pretax. Plan assets can grow tax-deferred — meaning you…

On Dec. 6 the Internal Revenue Service released the 2014 optional standard mileage rates. As of Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56 cents per mile for…

For 2013, the maximum IRA contribution is $5,500 — $6,500 if you’re age 50 or older on Dec. 31. (The maximum IRA  contribution or deduction may be reduced or eliminated depending on various factors.) But if you’re self-employed, you may…

Maybe. Deductions are more valuable when tax rates are higher, and higher-income taxpayers face higher rates in 2013. But the return of the itemized deduction reduction could make your donation deduction less valuable. Also keep in mind that the amount…

The implementation of the Affordable Care Act, gridlock in Washington, the court decision invalidating the Defense of Marriage Act, and the NSA Spying scandal were among the top domestic stories of 2013. We trust that you made it through and…

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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