FAQs

The due date of your personal tax return without extensions—generally April 15.

Deductible medical expenses must exceed 7.5% of your adjusted gross income before they can be used as an itemized deduction on Schedule A.

The last day you can contribute to a SEP-IRA is the due date of your tax return for that year (including extension). The maximum you can contribute is up to 25% of your income to a maximum of $52,000.

The first required minimum distribution from an IRA must be taken by April 1 of the year following the year in which you turned 70 1/2. Remember, since this is the latest date you must take your first RMD, if you do delay it to the year following the year in which you turn 70 1/2, you must take two distributions during that year-one for the prior year and one for the current year.

The Standard Mileage rates for 2015 are:

 

- 57.5 cents for business miles

- 23 cents for medical or moving miles

- 14 cents for charity miles