Client Login

- Individual Clients
- Business Clients
- Client Employee

Forgot Your Password? Please try logging in with the last password you remember first. (If that fails, you'll be able to reset your password on the next page.)

QuickBooks Online

BOSS™ Accounts Payable Documents Login

Video Meeting

Join a scheduled video meeting with our staff.
Join Meeting
Send Request

Fueling your organization with

personalized attention, innovative solutions and advanced technology

IRS releases 2014 tax numbers

noreply@blogger.com (Pepper Horton)

January 9, 2014

Each year the IRS adjusts certain tax numbers for inflation and tax law changes. Here are some of the adjusted numbers you'll need for your 2014 tax planning. 
  •   STANDARD MILEAGE RATE for business driving drops to 56¢ a mile. Rate for medical and moving mileage drops to 23.5¢ a mile. Rate for charitable driving remains at 14¢ a mile.
  •   SECTION 179 maximum deduction decreases to $25,000, with a phase-out threshold of $200,000. (Legislation may reinstate the 2013 deduction amount of $500,000, with a $2,000,000 purchase limit.)
  •   SOCIAL SECURITY taxable wage limit increases to $117,000. Retirees under full retirement age can earn up to $15,480 without losing benefits.
  •   KIDDIE TAX threshold remains at $2,000 and applies up to age 19 (up to age 24 for full-time students).
  •   NANNY TAX threshold increases to $1,900.
  •   HSA CONTRIBUTION limit increases to $3,300 for individuals and to $6,550 for families. An additional $1,000 may be contributed by those 55 or older.
  •   401(k) maximum salary deferral remains at $17,500 ($23,000 for 50 and older).
  •   SIMPLE maximum salary deferral remains at $12,000 ($14,500 for 50 and older).
  •   IRA contribution limit remains at $5,500 ($6,500 for 50 and older).
  •   ESTATE TAX top rate remains at 40%, and the exemption amount increases to $5,340,000.
  •   The ANNUAL GIFT TAX EXCLUSION remains at $14,000.
  •   ADOPTION TAX CREDIT for adoption of an eligible child in 2014 is $13,190.

Back to List

BOSS is the answer to your back office headaches. Our cloud-based solution enables you to hand complex accounting tasks over to us. We work the numbers while providing you 24/7 access to your data—and all at a fixed, affordable monthly fee.

read more

Our Specialties

  • Professional Service Providers

    We are committed to helping professional service providers build successful enterprises. Our skilled team of financial experts have years of experience in providing accounting...

    read more
  • Government

    Beyond core accounting work, our firm offers extended value as an accounting service provider for government entities. We truly understand the challenges...

    read more
  • Not-for-Profits

    We differentiate ourselves from other firms because we truly understand your needs and how you operate—including day-to-day bookkeeping routines, fund accounting, and the need for orderly and accurate data on-demand....

    read more
  • Small & Medium Sized Businesses

    With our decades of experience, we understand the accounting needs of small and medium-sized businesses. From tax and payroll all the way to audit, we can help achieve your goals...

    read more

Latest from Our Blog