Alfred A Cohen, CPA

Call Now: 732 577 9300

Charity

If receiving RMD distributions consider making a charity contribution directly form IRA. Reduces amount of taxable RMD. Under new tax law will make charitable contribution deductible.

18 Social Security

Wages subject to Social Security will increase to $ 128,700 in 2018. This will increase Social Security withholding by $ 632.40.

overtime rules

In May 2016, the Department of Labor announced revised regulations which affect the Fair Labor Standards Act’s “white collar” overtime exemptions. The new regulations increase the salary threshold needed to qualify for overtime exemption from $455/week ($23,600 per year) to $913/week ($47,476/year).

17 Social Security

Wages subject to Social Security will increase in 2017 to $ 127,200. This will increase Social Security withholding by $ 539.40.

Home Tools Tax Tools Blog

Connect with us

Facebook Yelp

Our Office

1

52 N. Main St, Marlboro, New Jersey , America

Tel: (732) 577-9300, Mail: info@aaccpa.com