February 2025
Raiding Your Retirement Funds? Here’s How to Avoid Hidden Tax Traps
By Laura Saunders from WSJ Sometimes in an emergency you just have to break the glass. While tapping a retirement plan for an early withdrawal should always be a last resort, it can be unavoidable. The cause could be a job loss, a natural disaster like a wildfire, or even an opportunity like a coveted house…
Read More2024 Taxes: 8 Things to Know Now
Here are eight things to keep in mind as you prepare to file your 2024 taxes. 1. Income tax brackets shifted a bit There are still seven tax rates, but the income ranges (tax brackets) for each rate have shifted slightly to account for inflation. For 2024, the following rates and income ranges apply: 2. The…
Read MoreWhat’s New This Tax Season That Can Save You Money: Key changes to consider before filing your tax return
By Ashlea Ebeling Even though Congress didn’t make major changes for this year, there are some new wrinkles to be aware of, especially for those who sell things online, bought an electric vehicle, or prefer to get their refund as a savings bond. Taxes might also be slightly less aggravating now. The Internal Revenue Service…
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