Deadlines
Rates & Percentages
Dollar Amounts
Entities & Forms
Ages
100
What is the filing deadline for a calendar year-end Form 990?
May 15th
100
What is the tax rate for distributions or draws on a flow-through entity?
0%
100
What is the annual gift exclusion amount?
$14,000
100
This form is used to report depreciation?
Form 4562
100
At what age can an individual start withdrawing from an IRA and not pay the 10% penalty?
59 1/2
200
What is the extended filing deadline for Form 1040?
October 15th
200
What is the top tax rate for individuals?
39.6%
200
What is the gross receipts limit for filing an e-postcard for a tax exempt organization?
$50,000 or less
200
This form is used to report the sale of business assets?
Form 4797
200
At what age is an individual required to take minimum distributions from their IRA?
70 1/2
300
What is the extended filing deadline for a calendar year end corporation?
October 15th
300
For individuals under the age of 65 medical expenses are deductible on schedule A if they are in excess of what percent?
10%
300
Married couple can exclude up to ______on the gain of personal residence under certain conditions?
$500,000
300
This schedule is used to reconcile book income with tax income?
Schedule M-1 or M-3
300
To qualify for the child tax credit the child must be under the age of?
17
400
What is the filing deadline for a calendar year end partnership return?
March 15th
400
What percent of ownership is needed for a shareholder to deduct their health insurance on page 1 of form 1040?
2%
400
What was the section 179 limit for 2016?
$500,000
400
This type of entity has a disadvantage of double taxation?
C-corporation or 1120
400
At what age can an individual make a catch-up contribution to an IRA, Simple-IRA, 401(K), 403(b) and 457 plans?
Age 50 or older
500
What is the filing deadline for a June 30 corporation?
September 15th
500
What percentage of current year taxes should be used when setting up next year's estimates for individuals with an AGI greater than $150,000?
110%
500
What is the estate and gift tax exclusion for 2016? Within $100,000
$5,450,000
500
This form is used to report gifts in excess of the annual exclusion?
Form 709
500
Double Jeopardy - Social Security
At what age can you start social security and what age do you automatically receive benefits?
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