The standard business mileage rate for 2024 is 65.5 cents per mile.

Health Savings Account (HSA) contribution limitations for 2024 are listed below. Contributions to an HSA are tax deductible or pre-tax as a payroll deduction. Funds from an H.S.A. account can be used to offset deductibles, copays, and other qualified medical expenses. Excess contributions are not deductible and are subject to penalty unless the excess contributions […]

FEDERAL 10% 12% 22% 24%   32%   35% 37%     Single < $11,600 $11,600 – $47,150 $47,150 – $100,525 $100,525 – 191,950 191,950-243,725 243,725-609,350   >609,350 Head of House < $16,550   $16,550 – $63,100   $63,100 – $100,500   $100,500 – 191,950   191,950-243,700   243,700-609,350   >609,350   Married Joint <$23,200 $23,200 – […]

If you and/or your spouse have taxable compensation (earnings subject to FICA and Medicare tax), you may be able to contribute to an Individual Retirement Account. The maximum Traditional IRA or ROTH IRA contribution for 2024 is $7,000 if under the age of 50 and $8,000 if age 50 or older as of the end […]

The standard deductions for 2024 are: Married Filing Joint $29,200 Married Filing Single $14,600 Head of House $21,900 Single $14,600   Tax payers 65 and over standard deductions for 2024 are: Married Filing Joint (One person 65 and over) $30,750 Single $16,550

Social Security: Individuals are taxed at 6.20% for Social Security up to an earned income of $168,600. Medicare: Individuals are taxed at 1.45% for Medicare with no limit to earned income. Once an individual earns more than $200,000 ($250,000 for married couples filing joint) an additional Medicare tax of 0.9% is added (2.35% total).

1099 Information Worksheet

Individual Income Tax Worksheet Business Income and Expense Worksheet Daycare Worksheet Farm Worksheet Work Agreement Form Year-End Letter Qualifying Taxpayer Form Client Information Disclosure Consent Form

Social Security: Individuals are taxed at 6.20% for Social Security up to an earned income of $160,200. Medicare: Individuals are taxed at 1.45% for Medicare with no limit to earned income. Once an individual earns more than $200,000 ($250,000 for married couples filing joint) an additional Medicare tax of 0.9% is added (2.35% total).   […]

The standard deductions for 2023 are: Married Filing Joint $27,700 Married Filing Single $13,850 Head of House $20,800 Single $13,850