MoneyThe Social Security Administration (SSA) announced that the maximum earnings subject to the Social Security component of the FICA tax will increase from $128,400 to $132,900 for 2019. This means that for 2019, the maximum Social Security tax that employers and employees will each pay is $8,239.80 ($132,900 x 6.2%). A self-employed person with at least $132,900 in net self-employment earnings will pay $16,479.6 ($132,900 x 12.40%) for the Social Security part of the self-employment tax. The Medicare component remains 1.45% of all earnings, and individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly, $125,000 for married filing separately) will pay an additional 0.9% in Medicare taxes.

per diem rates increasingThe new per-diem numbers are now out, effective October 1, 2018. These numbers are to be used for per-diem allowances paid to any employee on or after October 1, 2018, for travel away from home on or after that date. The new rates include those for the transportation industry; the rate for the incidental expenses; and the rates and list of high-cost localities for purposes of the high-low substantiation method.

If you'reeducation_savings.jpg a college student (or the parent of one), you should know about some key tax breaks that are available to you when you do your taxes. 
 
Tax Credits
 
There are two tax credits for higher education. They're targeted at different types of students, so it pays to know the differences.

 
According to Adam Smith's Canons of Taxation, the tax compliance function in any society needs to be convenient. This has not always been the case for many seniors in the United States. Form 1040EZ, Income Tax Return for Single and Joint Filers With No Dependents, currently used by eligible taxpayers under age 65, is not available to older taxpayers. Seniors age 65 and older may also not find relief in filing Form 1040A, U.S. Individual Income Tax Return, because of its $100,000 cap on taxable income and its prohibition on itemized deductions.

US Supreme CourtThe Supreme Court changed the landscape of online shopping Thursday, freeing state governments to compel retailers beyond their borders to collect sales-tax revenue from consumers and giving a boost to brick-and-mortar stores. With the boom in Internet commerce increasing exponentially, the court's 5-to-4 decision could have an impact on millions of Americans almost immediately. For years, avoiding sales tax was a prime perk of online shopping.