Posts on Jan 1970

Free money with Employer Pension Plans

There are a lot of good reasons to participate in an Employer Sponsored Pension Plan! Examples include: 401K, SIMPLEs and 403Bs. Many times your employer will make a matching contribution of up to a certain percent that you have contributed.  That’s like getting a raise!!!! The typical match is your employer putting in 3% if […]

Continue Reading

Social Security Wage Base & Earnings Limits

WAGE BASE: same in 2016 as in 2015 The maximum wage an employee will pay social security on for 2016 is $118,500.  The rate is 6.2% on up to that amount. There is no limit on the amount of wages for the 1.45% of Medicare tax withheld. If you end up paying on more that […]

Continue Reading

EXTENSION FILING DEADLINE!!!!

If you haven’t filed your 2015 tax return yet, and you have an extension, the due date is October 17th.  Keep in mind that there are both a FAILURE TO FILE PENALTY AND A FAILURE TO PAY PENALTY.  If you are not filing because you don’t have the money to pay your balance due keep […]

Continue Reading

NEW Scam-By Mail & Email this time.

Normally the scams are by phone.  Well now you have to watch out for IRS letters and emails also. Looks like they are sending Tax Bills related to the Affordable Care Act.   Don’t fall for it.  Never give out personal info when receiving things like that. Here is the IRS warning on the topic. […]

Continue Reading

Computer Maintenance @ Billings & Co.

Billings & Company will be performing routine computer maintenance and will be closed from Friday October 6th at 1PM through Monday October 10th at 8AM.  During this time period the office may have limited access to emails and responses to your inquiries may be delayed.  Thank you for your patience during this period as we […]

Continue Reading

Childcare costs got ya down?

If you are paying for childcare either because you work or are looking for work or because you are a student then GOOD NEWS……….You may be able to get a credit on your taxes because of it. That money you are paying is also includible as income to the person you are paying which is […]

Continue Reading

It’s HERE!!! The Extension deadline!!!!

Did you file an extension for your 2015 personal tax return? If so, this is the time to get us your tax documents. The final due date is the end of next week. TIME IS RUNNING OUT.   Please contact our office with any questions. Keep in mind that there are both a FAILURE TO FILE […]

Continue Reading