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The answer depends on your total income from all sources, including tax-exempt interest, as well as your filing status. When social security is your only income, benefits are generally not taxable. If you have income from other sources as well, up to 85% of your benefits can be taxable.

If you have a hobby that produces income, you must include the income on your tax return. But how much tax benefit you get from expenses related to your hobby depends on a number of factors. The major question is whether you’re truly attempting to make a profit. The IRS uses specific criteria to decide how an activity will be treated for tax purposes.

If you turned 70½ last year and decided to delay taking your first required IRA distribution, April 1, 2015, is an important deadline for you. That’s the last date for taking your initial required minimum distribution and avoiding a 50% penalty tax. If you’re retired, this deadline also applies to other retirement plans, except for Roth IRAs.

The filing deadline for 2014 federal tax returns for calendar-year C and Subchapter S corporations is March 16, 2015. You can request an automatic six-month extension of time to file. However, there’s no extension for paying the tax due with these returns, and you’re required to deposit what you owe by March 16.

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