TIP 12/18
Reminder - The IRS will never initiate contact with consumers by email
19 Social security
The Social Security Administration (SSA) has announced that the wage base for computing the Social Security tax (OASDI) in 2019 will increase to $132,900. This is up from $128,400 for 2018.
18 Social Security
Wages subject to Social Security will increase to $ 128,700 in 2018. This will increase Social Security withholding by $ 632.40.
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.
17 Social Security
Wages subject to Social Security will increase in 2017 to $ 127,200. This will increase Social Security withholding by $ 539.40.
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