The Social Security wage base will increase in 2014 to $117,000, a $3,300 bump over the current level of $113,700. The OASDI tax rate, or FICA tax rate, paid by both employers and employees will stay at 6.2%. The Medicare tax rate will also remain stable in 2014 at 1.45% (paid both by employers and [...]
“The line it is drawn and the curse it is cast, The slow one now will later be fast, As the present now will later be past, The order is rapidly fadin’, And the first one now will later be last, For the times they are a changin’.” One of my favorite classic Bob Dylan [...]
Hi Folks, Hope you’re all happily settled into a busy 2012. When meeting with a tax client, we are often asked “if I do this, will it send up a red flag”? Good question. Well, our friends at Kiplinger’s have compiled a dirty dozen list of IRS Targets. Here is a run-down of the top [...]
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