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Today, Ontario’s Minister of Finance, Peter Bethlenfalvy, presented the 2024 Ontario Economic Outlook and Fiscal Review, introducing key tax-related measures designed to provide relief to taxpayers, support families, and drive economic growth in the province.   In this article, we outline four main takeaways, including a proposed taxpayer rebate, adjustments to the Alternative Minimum Tax (AMT), an extension on fuel tax cuts, and the introduction of a new Ontario fertility treatment tax credit.   Learn how these changes will impact your personal and business affairs - https://lnkd.in/g4rmBreq 

Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. Axley & Rode can calculate any tax on your benefits. To read more go to: https://bit.ly/3y2DHmW

Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. We can calculate any tax on your benefits. https://bit.ly/2NMIz4g

Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. Axley & Rode can calculate any tax on your benefits. To read more go to: https://bit.ly/3y2DHmW

Private wealth partner James Quarmby has written a comment piece in today's The Telegraph business pages (£), in defence of the wealthy. In the article James dispels popular misconceptions about the 'filthy rich' and the taxes they pay. "Overall, the top 1pc of taxpayers pay nearly 29pc of all income tax, and the top 10pc pay a full 60pc – that’s funding a lot of doctors, nurses and other front-line services and, without them, the rest of us would pay even more." #privatewealth #nondoms #tax https://lnkd.in/gY2kZbWh

Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. Axley & Rode can calculate any tax on your benefits. To read more go to: https://bit.ly/3y2DHmW

Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. We can calculate any tax on your benefits. https://bit.ly/4cyJrEX

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Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. We can calculate any tax on your benefits. https://bit.ly/3VlmFdt

Some people mistakenly think that Social Security benefits are free from federal income tax. Unfortunately, that’s often not the case. Depending on how much “provisional income” you have, some benefits could be hit with federal tax. Provisional income is your adjusted gross income with some additional calculations. For example, if your provisional income is above $44,000, and you file jointly with your spouse, you must report up to 85% of your Social Security benefits as income on Form 1040. If you don’t file a joint return and your provisional income is above $34,000, you generally must report up to 85% of your Social Security benefits as income. We can calculate any tax on your benefits. https://bit.ly/3x1FGHB