Tax Information For 2015

 

 

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Social Security Wage Base
For 2015 the social security wage base is $118,500, an increase from the 2014 wage base of $117,000.

Mileage Rates
For 2015, the mileage allowance is 57.5 cents per mile for business travel. Miles driven for medical care or for a qualified move is 23 cents per mile. The mileage rate for providing services to a charity remains at 14 cents per mile.

2015 Federal Standard Deductions
$6,300 for single filers & married filing separately (up from $6,200 in 2014) $12,600 for married filers (up from $12,400) $9,250 for head of household (up from $9,100) $1,000 for dependents (no change from 2014)

Retirement Plan Contribution Limits

Extended Provisions

Affordable Care Act Provisions
Beginning with 2014 individual tax returns, health insurance coverage must be reported on the return. Please see our page on the Affordable Care Act for more information.

These are only a few key points regarding tax information for 2015.  Please notify us if you have any questions or concerns.