2012 TAX FACTS

Standard Mileage Rate - 55.5 cents per mile for business

Maximum Earnings Subject to Social Security Withholding - $110,100

Health Savings Accounts Limits:

Self Only Coverage:

  • Contribution Limit - $3,100
  • Plan Minimum Deductible - $1,200
  • Plan Out-of-Pocket Limit - $6,050

 

Family Coverage:

  • Contribution Limit - $6,250
  • Plan Minimum Deductible - $2,400
  • Plan Out-of-Pocket Limit - $12,100

Additional Contribution Limit - age 55 or older - $1,000

 

                                     

 

Income Tax Services- We provide tax services for individuals, C-Corporations, S-Corporations, Partnerships (General, Limited, LLC), nonprofit organizations, retirement plans, estates and trusts.

Electronic Filing - We provide electronic filing and direct deposit for faster processing of tax returns and return of tax refunds.

Planning - While preparation of tax returns is important, tax planning that provides the best results is our emphasis and we encourage clients to plan not only for the current year but for the long-term.