Posts made in November, 2013

2014 Social Security Wage Base Increases to $117,000

By on Nov 25, 2013 in Uncategorized | 0 comments

The Social Security Administration (SSA) announced that the taxable wage base is increasing from $113,700 to $117,000 in 2014. The new limit raises the level of income subject to the 6.2% Social Security tax. According to the SSA, about 10 million of the estimated 165 million workers who pay Social Security taxes will be affected by the change. Background Under the...

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The IRS Is Warning the Public About a Phone Scam that Targets People Across the Nation

By on Nov 19, 2013 in Uncategorized | 0 comments

Callers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card or wire transfer.  The scammers threaten those who refuse to pay with arrest, deportation or loss of a business or driver’s license. The callers who commit this fraud often: Use common names and fake IRS badge numbers. Know the last four digits of the...

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By on Nov 6, 2013 in Uncategorized | 0 comments

As 2013 draws to a close, individuals should talk to their tax advisors to see whether they are on track with their tax projections or need to make any adjustments. They should also be aware of a number of recent and upcoming tax law changes that might provide them with tax-saving opportunities. Individual Tax Planning Estimated Tax Payments. Those who are making...

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