The VanderBloemen Group LLC has begun publishing / distributing memos dealing with current tax and financial issues affecting both businesses and individuals.

These publications will be sent out periodically as new updates are available and we believe they can be very beneficial to both your business and your individual needs.

We hope you enjoy reading the attached and future memos. If at any time, you should have any questions about anything that is contained within these publications, please do not hesitate to contact us.

VanderBloemen Publications

10 Thing You Must Know About Social Security

For many Americans, Social Security benefits are the bedrock of retirement income. Yet future retirees could find themselves on shaky ground. The Social Security Board of Trustees, in its latest annual report, estimated that the retirement program would only be able to pay out 75% of scheduled benefits starting in 2033, three years earlier than projected last year.

2013 IRS Tax Tables & Inflation Adjustments

On Friday, the IRS issued Rev. Proc. 2013-15, which contains inflation-adjusted items for 2013, as well as the new income tax rate tables now in effect as a result of the American Taxpayer Relief Act of 2012.

Among the inflation-adjusted amounts that have increased are the personal exemption, which increased from $3,800 in 2012 to $3,900 for 2013, and the standard deduction, which for married filing jointly status increased from $11,900 in 2012 to $12,200 in 2013. In addition, the adoption credit is inflation-adjusted from $12,650 in 2012 to $12,970 in 2013.

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