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BUSINESS OWNERS HELPFUL LINKS:









Warner Lott Duritza & Lowe | PO Box 1228 | Wall, NJ 07719 | (732) 280-9060 | warner@wbandl.com

​IRAs:
IRA Contribution Limit
IRA Catch-Up Contributions

​IRA AGI Deduction Phase Out:
Joint Return
Single or Head of Household

SEP:
SEP Minimum Compensation
SEP Maximum Contribution
SEP Maximum Compensation

SIMPLE Plans:
SIMPLE Maximum Contributions
Catch-Up Contributions

401(k),403(b), Profit-Sharing Plans:
Annual Compensation
Elective Deferrals
Catch-Up Contributions
Defined Contribution Limits
ESOP Limits

Other:
HCE Threshold
Defined Benefit Limits
Key Employee
457 Elective Deferrals
Control Employee (board member or officer)
Control Employee (compensation-based)
Taxable Wage Base
 2014

​            5,500​
1,000


96,000
60,000


550
52,000
260,000


12,000
2,500


260,000
  17,500
   5,500
 52,000
1,050,000
210,000


115,000
210,000
170,000
17,500
105,000

210,000
117,000
2013

​5,500
1,000
​​

95,000​
59,000
​​

550
51,000
255,000


12,000
2,500


255,000
  17,500
   5,500
  51,000
1,035,000
  205,000


115,000
205,000
165,000
17,500
100,000

205,000
113,700

TAXPAYER'S GUIDE TO  IDENTITY THEFT

As Identity Theft is becoming a big issue, the IRS has published a to do list should this happen to you.  Click HERE
             Latest News - Taxes

This year we will be asking more detailed questions about your health coverage, along with those in your household.
        Click here for health care chart

New Jersey Sales Tax is now 6.875%.

New Jersey Minimum Wage is now $8.44

1099s should be received shortly. Please keep them together and submit to us when providing your personal tax data. 
Be Proactive - Take measures to protect your identity.  Here are just a few examples we suggest:

-Computer Safety:  Install a firewall and virus protection, and keep them updated.  If you get an email from an unknown source, do not click on any links in it.  Do not use operating systems no longer updated with antivirus patches (ex: XP).

-Protect Social Security Numbers:  Treat your number like gold, do not reveal your digits or include them unless absolutely necessary. Do not carry your social security card in your wallet and avoid sharing it on the internet (where it remains forever)

-Make copies of the contents of your wallet, in case it is stolen.

-Do not leave mail with personal information in your mailbox.  

-Place strong passwords on your bank accounts, credit cards, and telephone accounts.

-Be cautious of phone scammers: Never give information out on the phone to someone who calls you.  For example, if a utility company calls, you can always hang up and dial the 800 number on your bills to see if it was legitimate.

-Check your credit ratings: The credit bureaus can monitor your credit and report when there is unusual activity.

-Don't give out personal data loud:  Speak your identifying information quietly in stores, remember even a phone number can give a person your address.




Affordable Care Act - What to expect at Tax Time!
Click the sun below for information regarding the latest IRS Tax information for individuals!
 2015

​            5,500​
1,000


98,000
61,000


550
53,000
265,000


12,500
3,000


265,000
  18,000
   6,000
 52,000
1,070,000
210,000


120,000
210,000
170,000
18,000
105,000

215,000
118,500
 2016

​           5,500
1,000


98,000
61,000


600
53,000
265,000


12,500
3,000


265,000
  18,000
   6,000
 52,000
1,070,000
210,000


120,000
210,000
170,000
18,000
105,000

215,000
118,500
Please be advised there is an important new change in the New Jersey sales tax rate.

The new sales tax rate of 6.875 percent will take effect January 1, 2017 and replace the current sales tax rate of 7 percent.

Please be sure to adjust your software, computer, cash register, Quickbooks or other means for customer invoicing, if applicable.

May you have a happy, prosperous and healthy New Year and as always if you have any questions or we can assist you, please contact our office.