Tag Archives: tax

Will Your January 2012 Paycheck Be Smaller? UPDATED DECEMBER 28, 2011

UPDATE: Congress, eight days before its scheduled expiration, passed a two-month extension of the payroll tax-cut.  Lawmakers on both sides of the debate will once again pick up the negotiations for a longer-term deal early in 2012. The two percentage … Continue reading

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2012 HSA Contribution Limits

The IRS has recently announced the 2012 HSA contribution limits: Individual: $3,100 Family: $6,250 Minimum Annual Deductible (Individual): $1,200 Minimum Annual Deductible (Family): $2,400 Out-Of-Pocket Maximum (Individual): $6,050 Out-Of-Pocket Maximum (Family): $12,100

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Ohio Estate Tax Eliminated Beginning In 2013

On June 30, 2011, Ohio Governor John Kasich signed House Bill 153.  This 3,262 page appropriations bill, among other things, eliminates the Ohio Estate Tax, beginning in 2013.  The Ohio Estate Tax applies to a decedent’s property owned at the … Continue reading

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High Gas Prices Cause IRS To Increase Mileage Rate

The Internal Revenue Service has responded to the nationwide increase in gas prices by raising the mileage rate by 4.5 cents.  Starting July 1,  drivers will be able to deduct 55.5 cents per mile for the business-related travel they undertake … Continue reading

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What to do After you Win Mega Millions and/or Powerball

With tonight’s Mega Millions jackpot reaching $312 million and tomorrow’s Powerball jackpot at $125 million, people throughout the country may be dreaming of what they could do with this potential windfall of nearly one-half billion dollars.  Although the odds of … Continue reading

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