1. Key Tax Planning Strategies Year-End Tax Planning Tips Tax Tip 1provides a snapshot of key strategies geared toward helping you achieve your planning goals. It includes ideas to help you reduce your current year’s tax as well as any potential future taxes. While this chart is not all-...
There's no reason to wait until tax time to start making sure you've checked all the right boxes. Here are three tips for making the most of your money when it comes to filing your taxes in 2024.
As 2024 rides into the sunset, there’s still time to optimize tax strategies for yourindividual retirement account. Year-end tax planning is not only about saving money today; it can also set you up for better financial outcomes later in life. By taking strategic steps now, you...
Estate tax planning tips as Trump 2.0 is set to take over Saturday, November 16, 2024 Last month, the Internal Revenue Service issued its annual inflation adjustments for myriad tax provisions. The new numbers were released before the Nov. 5, so there was a bit of concern that these ...
Making charitable contributions in 2024 could be an important component of your financial and estate planning strategies, especially where taxes are concerned. Here are 12 ways to increase your charitable giving power while potentially reducing your taxable income this year and beyond. 1. Donate ...
Tax FilingPersonal FinanceBusiness FinanceTax PlanningRetirementSee all articles FEATURED TaxAct’s Guide to Your 2023 Taxes Now that tax season has arrived, we thought you could use a hand navigating your 2023 taxes. So, we put together a guide. It covers tax changes, deductions to take advan...
Workers who are 50 or older can also make catch-up contributions to eligible 401(k) plans. This is another way to lower your current tax bill while planning for the future. Those who are self-employed in retirement can deduct Medicare Part B and Part D premiums, as well as the cost of...
Wider tax brackets, a higher standard deduction, and expanded saving opportunities may help create new tax-saving possibilities for 2024. Consider tax-planning strategies throughout the year, like maximizing credits and deductions and using tax-smart investing strategies. A tax advisor and financial pr...
2023-2024 Federal Income Tax Brackets Understanding your current tax bracket is useful for tax planning. Your current income tax rate can determine when you shouldconvert a Traditional IRA to a Roth IRA, sell investments for short-term or long-term capital gains,make tax-deductible charitable cont...
Here are the 2024 tax brackets, for taxes due April 2025 or October 2025 with an extension: Tax rateSingleHead of householdMarried filing jointly or qualifying widowMarried filing separately Source: IRS 10%$0 to $11,600$0 to $16,550$0 to $23,200$0 to $11,600 ...