Newsletter March 2016

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March 2016

IRS FAQs - 2015 Contributions

  March 1, 2016

How long do I have to make 2015 IRA contributions? You can make 2015 IRA contributions until April 18, 2016, excluding extensions. How much can I contribute to an IRA? The contribution limit for 2015 and 2016 is $5,500, or $6,500...Read More

2016 Standard Mileage Rates

  March 1, 2016

As of Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are: 54 cents per mile for business miles driven, down from 57.5 cents for 2015 19 cents...Read More

Significant Tax Benefit: EITC

  March 1, 2016

Millions of taxpayers who earned $53,267 or less last year may qualify for EITC for the first time in 2016, making awareness critical. “One-third of the population eligible for EITC changes each year as their personal...Read More

Upcoming Tax Deadlines

  March 1, 2016

March Tu 15 Corporations: File Form 1120 for calendar year and pay any tax due. For automatic 6-month extension, file Form 7004 and deposit estimated tax. Tu 15 S Corporations: File Form 1120S for calendar year and...Read More