As the ball drops in Times Square on December 31, 2024, many of the tax breaks established by the Tax Cuts and Jobs Act (TCJA) of 2017 will disappear. While the TCJA made some permanent tax cuts, a number of tax cuts and...more
5/6/2024
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Estate Tax ,
Family Trusts ,
Income Taxes ,
IRS ,
Mortgage Interest ,
Qualified Business Income ,
Standard Deduction ,
State Taxes ,
Tax Code ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Trusts
The IRS recently announced the 2024 annual inflation adjustments for key tax provisions. Of interest to our clients,
• Standard Deduction: The standard deduction for married couples filing jointly increases by $1,500 to...more
The IRS on Friday announced a historic increase in contribution limits to 401(k) and other qualified retirement plans. In 2023, you may contribute up to $22,500 to your 401(k), 403(b) and most 457 plans, which represents more...more