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2007 TAX NOTEBOOK™ Dateline: January 2007
Clients of Dunlap & Associates who have already received a unique User ID and Password may access the Tax Notebook™ by clicking on the icon below:
Browser Settings: Tax Notebook requires the following browser settings to allow dynamic programming: Pop-ups must be allowed for this site; cookies must be allowed. Note: IE 6.x users must set the Privacy setting to Medium or lower; ActiveX controls must be enabled; JavaScript must be enabled. The site is best viewed with browser text size set to Medium, which is usually the default setting. 2008 TAX PLANNING GUIDE AVAILABLE ONLINE Dateline: January 2008
Click on the icon below to access the 2008 Tax Planning Guide online:
The Tax Planning Guide will provide you with valuable insights into how a little advance planning can help minimize your tax burden come April 15. If you have questions regarding anything contained in the Tax Planning Guide, contact your accountant directly, or call us at 215.997.5600.
2008 SOCIAL SECURITY UPDATE
Effective January 1,
2008 The maximum taxable wage base for Social Security for 2008 will rise to $102,000 from $97,500. As such, the maximum tax will increase by $279 to $6,324.00. Monthly Social Security benefits will increase 2.3 percent, increasing the average monthly benefit to $1,079 from $1,044. For retirees under full retirement age, the retirement earnings test exempt amount will rise to $13,560 from $12,960. For every $2 of earnings above this limit, $1 of benefits will be withheld.
2008 MILEAGE RATE INCREASE
Effective January 1,
2008 The Standard Mileage Rates for 2008 have increased as follows:
2008 PHILADELPHIA WAGE TAX RATE CHANGE
Effective January 1,
2008 Effective January 1, 2008, Philadelphia lowered its wage tax rates as follows:
Residents............4.219% (previously 4.26%) Nonresidents.......3.7242% (previously 3.7557%)
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