Taxes: The W-2c Form

Before I start, a quick reminder, taxes are due Monday, April 15! I just filed mine and wanted to share something new that I learned in the 10+ years of tax filing.

While I was gathering the necessary documents for my tax preparer, my company sent out a notice that Congress increased the maximum commuter transportation tax deductible limit from $125 to $240 and this is retroactive for 2012. Because of this change, every employee that fits the category (I file my transit expenses with my employer) will have a lower taxable wage and will be reflected on the W-2c form that they will mail out.

Great! But what is a W-2c? Continue reading

Do You Know Your Tax Bracket?

Recently while deciding how to contribute my bonus to my 401K (traditional before tax or Roth), I realize I never knew what tax bracket I’m in. I have a general idea what the tax rate was, but never confirmed. So I did a quick search and found this pretty table of the 2013 Tax Brackets from Bankrate.com (original post link here).

Table from Bankrate.com

Table from post at Bankrate.com

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