IRS and Social Security Announce Increased Benefits for 2015

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With the 2015 tax year right around the corner, there is good news coming from the IRS. According to a recent announcement, the tax agency has increased several tax breaks due to inflation adjustments. Here is a rundown of some of the changes: Contributions to 401(k) and 403(b)...
Important Tax Figures for 2015

“Bunch” Miscellaneous Itemized Deductions to Reduce Your Tax Bill

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Many expenses that may qualify as miscellaneous itemized deductions are deductible for regular tax purposes only to the extent they exceed, in aggregate, 2% of your adjusted gross income (AGI). Bunching these expenses into a single year may allow you to exceed this “floor.” So...