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For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 for single filers and $1,500 each for married taxpayers. There is an additional increase to the ...
In this episode of Your Money's Worth, senior tax editor Rocky Mengle talks about the latest update of the Kiplinger Retiree Tax Map. Will states with declining revenues make life harder on retirees?
The Internal Revenue Service announced record-high maximum annual contributions to 401 (k) and similar retirement accounts for 2023. Workers who have a 401 (k), 403 (b), most 457 plans, and the ...
In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1] [2] A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00.
Kiplinger (/ ˈ k ɪ p l ɪ ŋ ər / KIP-ling-ər) is an American publisher of business forecasts and personal finance advice that is a subsidiary of Future plc.. Kiplinger Washington Editors, Inc., was a closely held company managed for more than nine decades by three generations of the Kiplinger family, until its sale in February 2019 to Dennis Publishing, a U.K.-based media company.
If you find that you do need to file a tax return this year, you can free file through the IRS at IRS.gov/FreeFile if your 2023 adjusted gross income was below $79,000.
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