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Monthly Archives: December 2014

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Tax Pocket App Lends a Helping Hand to Taxpayers

Visit your App Store (Apple App Store and Google Play) and add Tax Pocket to your favorite device!

Tax Pocket combines several powerful features into one solution for fast, accurate, and secure tax record keeping and reporting.

Choose Heather Worrell, Profile ID #58074 / A Tax Haven as your Tax Professional, and your helping hand will be ready to start tracking mileage and  expenses.

It offers a Mileage Tracker, My Tracker– this is customizable and keeps records of business expenses, medical expenses, childcare expenses, charitable donations, travel expenses, business meals, education expenses, etc., Direct Access to contact A Tax Haven, an Event Calendar for tax deadlines, a Notification Tray for tax messages, a Tax Organizer, and a Newsletter. You can even add receipts! Best of all, you can send a detailed report to yourself or to me- Your Tax Professional at A Tax Haven!

What an awesome way to relieve some of that tax time stress!

 

IRS Begins Accepting Returns January 20th, 2015

Despite rumors of the IRS starting tax season later than the previous years, the IRS has now said it will begin accepting tax returns on January 20, 2015. Congress did indeed seem to drag their feet for quite awhile, knowing many Tax-Extenders had expired at the end of 2013, but thankfully, they finally decided to continue with many of the Tax-Extenders, and the legislation was signed into law on Dec. 19, 2014. Unfortunately, they only extended them through Dec. 31, 2014! It would make more sense for them to set a longer extension, instead of having to revisit this topic at the last minute each year. But, oh the politics!

Some of the popular tax breaks that were extended for 2014 include:

Educator Expense- up to $250

Deduction of PMI (Private Mortgage Insurance)

Deduction of State Sales Tax in lieu of State Income Tax

Mortgage Debt Forgiveness

Tax-Free Distributions from an IRA for Charitable Purposes

Increased Section 179 Expense Limits

 

2015 Standard Mileage Rates

2015- Standard Mileage Rates

(cents per mile for 2015 Tax Returns)

Business                      57.5

Medical/Moving         23

Charitable                   14

Tax Rates – 2014 Returns

Federal Tax Rates for Tax Year: 2014

Single Taxpayers:

tax chart

Married Filing Jointly and Surviving Spouses:

 

 

 

 

Head Of Household:

Married Filing Separately:

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