Category Archives: Prior Year Taxes

Prior Year Tax Stories

Tax Changes for 2015: A CFO Checklist

TimeForChanges_co_55_print_CrystalGraphics.com_PowerPoint_TemplatesWelcome 2015! As the new year rolls around, it’s always a sure bet that there will be changes to current tax law and 2015 is no different. From health savings accounts to retirement contributions and standard deductions, here’s a checklist of tax changes to help you plan the year ahead.

Individuals

For 2015, more than 40 tax provisions are affected by Continue reading Tax Changes for 2015: A CFO Checklist

IRS 2015 Standard Mileage Rates

IRS 2015 Standard Mileage Rates

IRS 2015 Standard Mileage Rates
IRS 2015 Standard Mileage Rates

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck are:

  • 57.5 cents per mile for business miles driven, up from 56 cents in 2014
  • 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
  • 14 cents per mile driven in service of charitable organizations

These optional standard mileage rates are used to calculate the deductible costs of Continue reading IRS 2015 Standard Mileage Rates

2015 Retirement Contributions Limits

2015 Retirement Contributions Limits

2015 Retirement Contributions Limits
2015 Retirement Contributions Limits

The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2015.

In general, many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged for 2015. Here are the highlights:

Continue reading 2015 Retirement Contributions Limits