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JFB understands that excellent financial management for your business is crucial to your success. We have extensive experience in providing sophisticated tax planning, tax returns preparation, compliance and audit representation. In addition, we have vast experience in providing financial management consulting services.
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Helpful Tips From JFB >>>
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| Things You Should Know: |
2012 |
2011 |
Business Mileage Rate
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55.5 Cent |
51 (Jan-Jun) 55.5 (Jul-Dec) |
| 401(K) Contribution Limit |
$17,000 ($22,500 +50) |
$16,500 ($22,000 +50) |
| 401(K) Individual |
$50,000 |
$49,000 |
| IRA Contribution (Traditional & Roth) |
$5,000 ($6,000 +50) |
$5,000 ($6,000 +50) |
| Simple Contribution |
$11,500 ($14,000 +50) |
$11,500 ($14,000 +50) |
| Social Security Wage Limit |
$110,000
Employees 4.2%
Employers 6.2%
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$106,800
Employees 4.2%
Employers 6.2%
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| Social Security Earnings Limit (>65) |
$14,160 |
$14,160 |
| Annual Gift Limit |
$13,000 |
$13,000 |
| Estate Exemption |
$5.12 Million |
$5 Million |
| Kiddie Tax Threshold |
$1,900 (Age 19-24 If F/T Student) |
$1,900 (Age 19-24 If F/T Student) |
| Hope Tax Credit |
$2,500 |
$2,500 |
| Section 179 Limit |
$125,000 |
$250,000 |
| HSA - Individual |
$3,100 |
$3,050 |
| HSA - Family |
$6,250 |
$6,150 |
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