Social Security Max Increases to $118,500 for 2015

Each year, the government bumps up the maximum Social Security taxes that you can pay. ?For 2015, the maximum wage base jumps to $118,500, an increase of $1,500, or 1.3%, over the max of $117,000 that was in place for 2014. The Social Security Administration predicts...

Oct 15 Deadline

Don’t forget! Wednesday, October 15 is the deadline to file your 1040 if it was put on extension on ?April 15th!

MA Tax Amnesty Program in Effect until October 31, 2014

Are you one of the ?lucky? Massachusetts taxpayers that owe the Commonwealth unpaid taxes?? If you have a tax liability that existed and were billed prior to July 1, 2014 via a Notice of Assessment and that balance remains unpaid – you may qualify to have the...

4 Basic Tax Tips about Hobbies

From IRS Tax Tips: Millions of people enjoy hobbies that are also a source of income. Some examples include stamp and coin collecting, craft making, and horsemanship. You must report on your tax return the income you earn from a hobby. The rules for how you report the...

5 Basic Tax Tips for New Businesses

From IRS Tax Tips: If you start a business, one key to success is to know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. Here are five basic tax tips that can help get your business off to a good...

IRS Tips on Gambling Income and Losses

From IRS Tax Tips: Whether you like to play the ponies, roll the dice or pull the slots, your gambling winnings are taxable. You must report all your gambling income on your tax return. If you?re a casual gambler, odds are good that these basic tax tips can help you...