In Rev. Proc. 2024-25, the IRS made changes for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2025. The maximum annual HSA contribution is: For HSA-compatible HDHPs, the 2025 minimum deductible amounts are: The 2025 maximum annual out-of-pocket amounts for HDHP are: For the full details, see the IRS revenue procedure. Photo […]
Summertime is (almost) here! Are you traveling this summer? We would love for you to share your travel plans and recount your vacation stories with us! Whether you’re going out of town, out of state, or out of the country, there are always a lot of things to do before you leave. Here are a
Summer vacations are a cherished time for families to come together, unwind, and create lasting memories. It’s also an opportune moment to have important conversations, such as discussing estate planning. While the topic may not be as exciting as planning activities or exploring new destinations, it’s a crucial discussion that can provide peace of mind
Summer Vacations are a Perfect Time to Talk to Your Family About Estate Planning Read More »
by Matt Schwartz During an election year, it is natural to relate your profession to the Presidential election. At Schwartz Montoya Legal, we are considering for our clients what they should do between now and the end of 2025 when the expanded estate and gift tax exemption under the Tax Cuts and Jobs Act of
Lifetime Exemption – Is now the time to Make gifts? Read More »
A Primer on Fiduciary Income Tax. This is one of the most common questions we receive and particularly so as we approach the heart of tax season. The answer is the classic lawyer response, “it depends.” After someone passes away, property is inherited in different ways and how the property is transferred (the ownership chain)
by Matt Schwartz On January 13, 2013, my father-in-law passed away. He had been battling poor health for several years but it was still hard for all of us (particularly Beth) and he was the first grandparent that Rebecca and Anna lost. When we went out to California to attend the funeral and sit shiva
