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Please check here often to view recent changes in the U.S. Tax Laws.
Updated: November 10, 2008
NEW!
2009 Retirement Contribution Limits:
| IRA | $5,000 |
| IRA catch-up | $1,000 |
| 401(k)/403(b) | $16,500 |
| 401(k)/403(b) catch-up | $5,500 |
| SIMPLE | $11,500 |
| SIMPLE catch-up | $2,500 |
| SEP IRA | $49,000 |
| SEP IRA catch-up | $5,500 |
| The catch-up is for those that are 50 years old or older before the close of the tax season. |
|
2009 Estate Tax Limits:
| Annual gift tax exclusion | $13,000 |
| Estate tax exemption | $3,500,000 |
2009 Mileage rates
Business: 55 cents/mile
Medical/moving: 24 cents/mile
Charitable: 14 cents/mile
DISCLAIMER:
Pursuant to recently-enacted U.S. Treasury Department Regulations, I am now required to
advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.
