1/14: Dates to Know; ME Itemized Deductions; NH Individual Taxation; 2013-14 Federal Mileage Rates

Tax Snacks: Bite-size tax news and information on the fly

Tax Snacks graphic

Upcoming dates to remember

January 31 – Forms 1099 and W-2 must be mailed to recipients.
February 28 – Forms 1099/W-2 (and related 1096/W-3) must be mailed to the IRS.

Maine itemized deductions

Beginning with 2013 tax returns, total itemized deductions allowable on Maine individual income tax returns cannot exceed $27,500. This rule is an across the board limitation on itemized deductions and applies regardless of the amount of itemized deductions allowable on the federal individual income tax return.

New Hampshire individual taxation

New Hampshire does not assess a conventional income tax on personal (nonbusiness) income, but it does tax residents’ investment incomes. For 2013, returns must be filed if investment income (i.e., interest and dividends) exceeds $2,400 ($4,800 for joint filers).

2013 & 2014 federal mileage rates

2013 2014
Business miles 56.5¢ 56¢
Medical/moving miles 24¢ 23.5¢
Charitable miles 14¢ 14¢


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