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The April 15 deadline for filing federal income tax returns is looming. Maybe you're still working up your 1040 forms, and muttering under your breath for missing.
Few tax laws cause as much confusion as those that apply to the gift and estate tax, and 2014 is no different. Fortunately, the major changes in recent years have been to your advantage. Gift ...
The deal caps the federal government's spending for Fiscal Year 2014 at $1.012 trillion and for Fiscal Year 2015 at $1.014. [27] This deal would eliminate some of the spending cuts required by the sequester by $45 billion of the cuts scheduled to happen in January 2014 and $18 billion of the cuts scheduled to happen in 2015.
There is also a maximum 401(k) contribution limit that applies to all employee and employer 401(k) contributions in a calendar year. This limit is the section 415 limit, which is the lesser of 100% of the employee's total pre-tax compensation or $56,000 for 2019, or $57,000 in 2020. [40] [37] For employees over 50, the catch-up contribution ...
A 401(k) is one of the best retirement savings vehicles around. Money you invest grows tax-deferred, and depending on the type of 401(k) you have access to, you may either get a tax deduction when ...
Gifts above the annual exemption amount act to reduce the lifetime gift tax exclusion. [14] Congress initially passed the gift tax in 1932 at a much lower rate than the estate tax, a full 25% under the estate tax rate, while also providing a $50,000 exemption, separate from the $50,000 exemption under estate tax. [15]
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Employees hired prior to January 1, 2013 contribute 0.8 percent of salaries to their FERS annuity (post-tax, unlike TSP contributions which are pre-tax), while employees hired in 2013 contribute 3.1 percent and employees hired in 2014 and thereafter contribute 4.4 percent (an additional 0.5 percent applies to certain special category positions ...