by Leif Jensen | Feb 18, 2012 | General |
Here are the projected levels for the Social Security wage base for 2013 $114,000, up $3,900 from this year’s ceiling. This is President Obama’s official budget forecast, based on data from the Social Security Admin. The long range estimates are: $119,100 for 2014...
by Leif Jensen | Feb 13, 2012 | General |
This joke has been floating around on the internet for quite a while. They sent my Tax Return back! AGAIN!!! In response to the question: “List all dependents?” I replied – “12 million illegal immigrants; “3 million crack heads; “42 million unemployable people...
by Leif Jensen | Feb 12, 2012 | General |
I have just read that the stats for individual audit tax return done during 2011 were the same as in 2010, 1.11% Now when you look more closely those numbers do change a bit. But, it is my understanding that these numbers do not include the hash audits that are...
by Leif Jensen | Feb 12, 2012 | General |
I took on a new client a couple of weeks ago. What was interesting is that he had conversations with an accounting firm. One question that he had asked was if there was a problem would they be able to address it with the IRS or IDOR. At least they answered...
by Leif Jensen | Feb 11, 2012 | General |
Starting in 2013 a second surtax boosts the top rate on capital gains and dividends to 18.8% from the current15% nominal maximum rate that we expect will be in effect for 2013, plus an additional 3.8%. An ugly example of this surtax is if you sell your primary...
by Leif Jensen | Feb 11, 2012 | General |
Springfield seems unable to solve its long-running financial problems. Who would have thought increasing taxes and spending simultaneously would cause a bad situation to get worse. Last month we were given the lowest credit rating of any state in the country by...
