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2014 Tax Updates and New Years Requests

Important Tax Updates for 2014 With the New Year right around the corner, we would like to keep you informed of some important tax updates for 2014. Tax laws are constantly changing, so feel free to contact us at any time you have questions. Personal and dependent exemptions are increased to $3,950 for 2014 Standard deductions - are increased for 2014 to: Single or Married filing separately: $6,200 Head of Household: $9,100 Married Filing Jointly or Qualifying widow(er) with dependent child: $12,400 The maximum earned income tax credit (EITC) for 2014 is increased to $6,143 The maximum income limit for the EITC for 2014 is increased to $52,427 The foreign earned income deduction for 2014 is

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