Friday, January 20, 2017

Pease and PEP (Personal Exemption Phaseout)


Both Pease (limitations on itemized deductions) and PEP (personal exemption phase-out) have been permanently extended (and indexed to inflation) for taxable years beginning after December 31, 2012, and in 2017, affect taxpayers with income at or above $261,500 for single filers and $313,800 for married filing jointly.

If you would like to schedule a Free Initial Consultation to learn more about the tax preparation and tax planning & compliance services we offer to businesses and individuals, send us an e-mail or call Amare Berhie today at 651-300-4777 to schedule a convenient time.
Amare Berhie, Senior Accountant          
CEO, ABA Tax Accounting
651-300-4777


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