Tag: 2014

This page tracks Social Security Cost-of-Living Adjustments year by year — confirmed figures and the latest forward estimates. The 2026 COLA is confirmed at 2.8%, effective January 2026. The 2027 COLA is currently tracking around 3.8%, after briefly spiking toward 4.7% in June. I've also added what the latest Trustees…

The Saver's Credit gives lower- and moderate-income workers a direct tax credit — not just a deduction — for contributing to a retirement account. For 2026, the income limits increased across all filing statuses, so more people now qualify than in prior years. The IRS confirmed these thresholds in Notice…

Given the low inflation environment over the last year, the 2015 IRS Tax Brackets, standard deductions and personal exemptions have only seen a moderate increase over 2014 levels. Federal income tax brackets and related tax items, under the tax code, provide for mandatory annual adjustments based on inflation. This is to prevent…

See this article for the latest IRS updates to federal tax brackets and standard deductions. ____________ Below are the 2014 IRS federal tax brackets based on annual inflation adjustments. Given the low inflation environment there were only moderate increases in tax brackets, standard deductions and to the personal exemption. The main changes…

See this updated article for the latest 401(k) and IRA Contribution, Eligibility, Income and Tax Deduction Limits The IRS has released updated 2014 limits for defined contribution (or pension) plans such as 401(k) and IRAs. This was delayed from the usual mid-October release due to the government shutdown. The annual limits…

The maximum federal Supplemental Security Income (SSI) payment for 2026 is $994 a month for an individual and $1,491 a month for a couple, confirmed by the Social Security Administration's 2.8% cost-of-living adjustment (COLA). That's up from $967 and $1,450 in 2025. Most people don't actually get the maximum. Your…

April 15th 2014, or the 2013 tax filing due date, is not that far away. Which means its time to do some serious tax planning so that by year end you maximize your income while minimizing your taxes dues when filing in 2014.  But first, the official rates and tables…

[Updated November 2013]  Without an extension to the 2009 stimulus funding for the Food Stamp/SNAP program, millions of Americans who rely on this program are going to see a cut in their benefits. The overall cut to the the program is around $5 billon dollars with the CBPP estimating the…

President Obama's signature health care legislation, the Affordable Care Act, is very much in place now and in the next few months a number of Americans are going to see a lot more of the regulations and laws come into place. This includes: Penalties for No Health Insurance. Beginning in…

With the 2012 tax season in the rear view mirror, its time to start thinking about 2013 taxes and strategies that you can put in place to minimize taxes owed in 2014.  But before that take some time to familiarize yourself with the new 2013 tax brackets shown below. But, be careful…

[Updated for 2013-2014 tax filing season] Thanks to the so called fiscal cliff deal reached last year there were a number of impacts to taxes in 2013 which you need to be aware of when filing your 2014 taxes. Changes were in the form of updated federal tax rates, new…

If I had to pick one tax-advantaged account most people are underusing, it would be the HSA — and it's not particularly close. I've been contributing to one for years, and the more I've learned about how these accounts work, the more I think of them as a stealth retirement…

The Earned Income Tax Credit (EITC) is the largest refundable federal tax credit for working families and individuals. For tax year 2026 — the income you'll report on the return you file in early 2027 — the maximum credit rises to $8,231 for families with three or more qualifying children.…