CPA Marketing Blog: IRS publishes 2015 tax numbers
I thought you might find these 2015 tax numbers just published by the IRS and SSA useful in your tax planning sessions with clients over the coming weeks.
- SOCIAL SECURITY taxable wage limit increases from 2014 limit of $117,000 to $118,500 for 2015. Retirees under full retirement age can earn up to $15,720 without losing benefits.
- AMT EXEMPTIONS for 2015 are $53,600 for singles, $83,400 for couples, and $41,700 for married couples filing separately.
- 401(k) MAXIMUM salary deferral increases to $18,000 for 2015. The catch-up limit for 50 and older increases to $6,000.
- SIMPLE maximum deferral increases to $12,500 for 2015. The catch-up limit for 50 and older increases to $3,000.
- IRA CONTRIBUTION limit remains at $5,500 for 2015 ($6,500 for 50 and older).
- HSA CONTRIBUTION limit increases for 2015 to $3,350 for individuals and to $6,650 for families.
- KIDDIE TAX threshold for 2015 increases to $2,100.
- NANNY TAX threshold remains at $1,900 for 2015.
- ANNUAL GIFT TAX EXCLUSION remains at $14,000.
- ESTATE TAX EXEMPTION increases from the 2014 amount of $5,340,000 to $5,430,000 for 2015.
The new 2015 Tax Pocket Guide brochure is now available! A favorite of clients and prospects every year! Includes 2015 tax brackets, filing deadlines, exemptions, and phase-out thresholds. Plus, a handy list of record retention guidelines for individuals and businesses.
Call us to order today! 1-800-654-1654.
Mostad & Christensen, Inc.