Uncategorized

Social Security Max increase to $117,000 for 2014

Each year, the government bumps up the maximum Social Security taxes that you can pay. For 2014, the maximum wage base jumps to $117,000, an increase of $3,300, or 2.8%, over the max of $113,700 that was in place for 2013. The Social Security Administration predicts that 10 million individuals will end up paying higher… Continue reading Social Security Max increase to $117,000 for 2014

Planning, Taxes, Uncategorized

Part 1: New Tax Rules, Hikes and Strategies for 2013

Tax hikes in 2013 mean it's time to revisit available tax breaks. Effective 1/1/13, taxes increased for many well-paid Americans. Here are three separate tax hikes that might affect you: Top federal income tax rate now 39.6% Top Medicare tax on earned income now 3.8% New 3.8% Medicare tax on unearned income Beginning on January… Continue reading Part 1: New Tax Rules, Hikes and Strategies for 2013

Savings, Taxes

SOCIAL SECURITY MAX INCREASES TO $113,700 FOR 2013

Each year, the government bumps up the maximum Social Security taxes that you can pay. For 2013, the maximum wage base jumps to $113,700, an increase of $3,600, or 3.3%, over the max of $110,100 that was in place for 2012. The Social Security Administration predicts that 10 million individuals will end up paying higher… Continue reading SOCIAL SECURITY MAX INCREASES TO $113,700 FOR 2013