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.

Now Available!
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.

Arvid Mostad
Mostad & Christensen, Inc.

Arvid Mostad

Arvid Mostad is the President and co-founder of Mostad & Christensen, Inc. Since 1978, M&C's marketing products have helped accounting firms build client loyalty, get more referrals, add value to services, be visible in their community, and keep clients informed.