Social Security

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What are “Step 4 Reportable Social Security Benefits” On the Iowa Tax Return?

By | August 22nd, 2018|Categories: State Taxes|Tags: , |

Iowa does not tax Social Security benefits. However, those benefits ARE included in several calculations. To find out how Social Security affects those calculations, you have to calculate your "reportable" Social Security benefits in Iowa.

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Glossary: Tier I/Tier II Railroad Retirement Benefits

By | October 26th, 2017|Categories: Potpourri of Tax Topics|Tags: , , , |

Railroad Retirement Benefits are a form of retirement income for people employed by railroads in the United States. Let's look at how these benefits are taxed.

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Ask Jason 2/17/12

By | February 17th, 2012|Categories: State Taxes|Tags: , , , , |

Q: What is the IRS definition of breastfeeding supplies? A: IRS Notice 2011-14 states "expenses paid for breast pumps and supplies that assist lactation are deductible medical expenses" and are eligible for reimbursement through HSAs. So basically, anything you purchase for breastfeeding would qualify. Q: Do i have to file taxes after 72 years old? A: This [...]

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Ask Jason 2/3/12

By | February 3rd, 2012|Categories: Potpourri of Tax Topics|Tags: , , , , , , |

DISCLAIMER: The answers to questions in this segment are intended to be general in nature and do NOT constitute tax advice. Please contact a tax advisor to discuss your unique situation.   Q: I have a business account with an associated merchants card account. In the past I have done business with  entities that only pay [...]

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Do I Have to File a Tax Return After I Turn 72?

By | January 14th, 2012|Categories: Potpourri of Tax Topics|Tags: |

Do you have to file a tax return after you turn 72? Yes ... if your income exceeds certain levels.