2015 Tax changes

What is the federal income tax rate? How do you calculate federal income tax? When is the deadline for tax return? That’s because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15.

All of the aforementioned IRAs count as a single plan.

Thus, if you have both a traditional IRA and a Roth IRA and want to roll them both over into a different IRA,. See all full list on proconnect. The top tax rate of 39. Access IRS Tax Forms.

Top Income payroll tax went from 37. Complete, Edit or Print Tax Forms Instantly. Free for Simple Tax Returns. Maximum Refund Guaranteed.

Industry-Specific Deductions. Get Every Dollar You Deserve. Connect With A Live Tax CPA. Available Nights And Weekends. Each taxpayer can claim a personal exemption, along with one for a spouse and.

Taxpayers should be careful when withdrawing IRA funds not to run afoul of a new one-rollover-per-year limit. IRA to another IRA in a 12-month period. A rollover is described as withdrawing the funds from one IRA, holding them for less than days and then depositing them into another IRA account. Learn more about How to Reimburse a Nanny for Gas and Mileage.

Here are the new rates. Find out more about paying your caregiver minimum wage. Social Security ( employee share and employer share) plus 2. Medicare ( employee share and employer share). In years past, the AMT was subject to a last minute scramble by Congress to “patch”.

Image source: Getty Images. Find your state below to see what changes you’ll need to make in order to stay tax compliant this year!

Minimum wage increased to $8. Income tax rates remained unchange while income tax brackets, personal exemptions and standard deductions were adjusted upwards for inflation. While the majority of the year was plagued by gridlock, Congress was able to pass a significant tax relief bill that made many expiring tax deductions permanent and extended others for multiple years.

Health Insurance Penalties. Temporary tax benefits go permanent. Marrie Filing Joint Status for Same-sex Couples. As with the Hope Scholarship Credit, income restrictions apply to the Lifetime Learning Credit. Increased Security Requirements.

Short term capital gains are taxed at a higher rate than long term capital gains. Changes were also made to certain tax Deductions,. If you sell investments that were held for less than a year,.

They lower the taxes for all families with children under eighteen.