Monthly Archives: December 2009

Simple IRA Maximum Contribution for 2009

If you participate in an Employer sponsored Simple IRA, you can put an max of $11,500 in 2009 PLUS $2,500 for being over age 50.  That total is $14,000 maximum as an employee deferral.  Additionally, the employer has some matching … Continue reading

Posted in Income Tax, LLC's, Payroll Tax, Retirement Accounts, Sub S Corporations | 1,770 Comments

ROTH IRA Maximum Contribuiton for 2009

$5,000 into a REGULAR IRA is the max for a single individual UNDER age 50 who does not participate in an employer sponsored retirement plan and still receive a tax deduction.  Add $1,000 if over age 50.   Can contribute till … Continue reading

Posted in Income Tax, LLC's, Retirement Accounts, Sub S Corporations | 333 Comments

Regular IRA Maximum Contribution for 2009

$5,000 into a REGULAR IRA is the max for a single individual UNDER age 50 who does not participate in an employer sponsored retirement plan and still receive a tax deduction.  Add $1,000 if over age 50.   Can contribute till … Continue reading

Posted in Income Tax, LLC's, Retirement Accounts, Sub S Corporations | 2 Comments

Residential Energy Property Credit

Residential Energy Property Credit for Air Conditioning and Heating, Insulation, Exterior Windows….it’s n/a for 2008, yes for 09 and 2010 IF it meets certain criteria….not just any replacement ac qualifies……must be energy efficient and be manufacturers certified….(new requirement and frankly … Continue reading

Posted in Income Tax | 14 Comments

2010 Mileage Rates

2010 Standard Mileage rates for the use of a car (includes Pickups, Vans and Panel Trucks): 50 cents per mile for business miles driven 16.5 cents per mile driven for medical or moving purposes 14 cents per mile driven in … Continue reading

Posted in General, Income Tax | 60 Comments