IRS will open the 2014 filing season on January 31, a 10-day delay due to the October government shutdown.
401(k) maximum salary deferral for 2014 is $17,500 ($23,000 for those 50 or older).
SIMPLE maximum salary deferral for 2014 is $12,000 ($14,500 for those 50 or older).
IRA contribution limit for 2014 is $5,500 ($6,500 for those 50 or older).
The top estate tax rate for 2014 is 40%, and the exemption for 2014 increases to $5,340,000.
The annual gift tax exclusion for 2014 is $14,000.
The tax credit for the adoption of an eligible child in 2014 is $13,190.
Singles with 2014 income over $254,200 ($305,050 for married) will have their personal exemptions and itemized deductions phased out.
Bill Zumwalt
Helping REALTORS with Tax Solutions and Solving Tax Problems for REALTORS
REALTOR Tax Preparation, REALTOR Tax Accountant, Tax Preparation Tulsa, OK
Accountant Tulsa, OK, CPA Tulsa, OK, Tax Prep Tulsa, OK, Tax Savings Tulsa, OK, Tax Accountant Tulsa, OK
The Tax Coach for REALTORS
William T Zumwalt CPA,CTC, PLLC
5416 South Yale Ave
Suite 120
Tulsa, OK 74135
918-583-1040
855-993-3339
Bill@TeamZumwalt.com
www.TeamZumwalt.com
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