Adoption Assistance Programs Earnings subject to FICA taxes (taxable wage base) 1 An additional Medicare (HI) employee contribution rate of 0.9% (for a total employee contribution of 2.35%, and a total combined Medicare...
Adoption credit Alternative Minimum Tax (AMT) Charitable deductions 1 Contribution is fully deductible if minimum contribution amount is met and cost of token gift does not exceed maximum 2 Charitable contribution is fully deductible if the...
Eligible long-term care premium deduction limits: Per diem limit: Archer Medical Savings Accounts Flexible spending account (FSA) for health care Health Savings Accounts (HSAs) All investing involves risk, including the possible loss of principal, and...
Single taxpayers Married filing jointly and surviving spouses Married individuals filing separately Heads of household Trusts and estates All investing involves risk, including the possible loss of principal, and there is no guarantee that any...
This year has been challenging on many fronts, but one financial opportunity may have emerged from the economic turbulence. If you've been thinking about converting your traditional IRA to a...
The U.S. homeownership rate jumped by 2.6% in the second quarter of 2020, the largest quarterly increase on record, bringing it to a level last seen in 2008. Part of...
Here are some things to consider as you weigh potential tax moves before the end of the year. Defer income to next year Consider opportunities to defer income to 2021, particularly if...
If there is one thing the COVID-19 stay-at-home orders demonstrated, it was the need to find joy in simple pleasures. In fact, 43% of respondents to one survey said they...
The coronavirus pandemic has forced consumers to change many habits, including how they shop. This is particularly true for baby boomers (ages 56 to 74). Nearly half (45%) said they...
Many people intend to retire in the place they call home, where they have established families and friendships. But for others, the end of a career brings the freedom to...