The end of the London Interbank Offered Rate (LIBOR) is approaching quickly. LIBOR is to be phased out by the end of 2021 and will be replaced by another benchmark rate. LIBOR is an interest rate calculation used globally. Floating Rate Notes use the LIBOR as a reference for calculating the coupon rate. LIBOR reflects …
Read More...What does your tax return say about your financial situation? The fact is, the paperwork you file each year offers excellent information about how you are managing your money—and highlights areas where it might be wise to make changes in your financial habits. If you have questions about your financial situation, we can help. Our …
Read More...The Internal Revenue Service reminds taxpayers to review their 2019 tax withholding using the IRS Withholding Calculator and make any changes with their employer as soon as possible. This is especially true for anyone who adjusted their withholding during the middle or later parts of 2018. That’s because a mid-year withholding change, only affecting part …
Read More...As the result of a processing error, a quarter of a million Medicare beneficiaries may receive bills for up to five months of premiums. Don’t toss this bill in the garbage; it is not a mistake or scam! The processing error that occurred in January caused premiums to not be deducted from some Social Security …
Read More...Identity theft is a frustrating process for victims. The IRS is taking this issue very seriously and continues to expand on their robust screening process to stop fraudulent returns. What is identity theft? Identity theft occurs when someone uses personal information such as your name, Social Security number (SSN) or other identifying information without your …
Read More...Ohio’s hourly minimum wage will increase to $8.55 on January 1, 2019 according to the Ohio Department of Commerce. Ohio’s previous minimum wage was $8.30. The $8.55 rate applies to non-tipped employees. The minimum wage for tipped workers will increase to $4.30 from $4.15. Some minimum wage workers in Ohio will not be paid $8.55 …
Read More...The Internal Revenue Service recently issued the 2019 optional standard mileage rates to be used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. As of January 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are:: 58 cents …
Read More...Limit Type 2019 2018 Maximum Employee 401(K) or 403(b) Deferral $19,000 $18,500 Employee Catch-up Contributions $6,000 $6,000 Maximum Contribution to Defined Contribution Plan $56,000 $55,000 Maximum Benefit in a Defined Benefit Limit $225,000 $220,000 Annual Limit on Compensation $280,000 $275,000 Highly Compensated Employees $125,000 $120,000 Social Security Wage Base $132,900 $128,400 Annual IRA Contributions $6,000 …
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