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
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)
It is the time of year when many of us make New Year’s resolutions. During a recent NPR broadcast, a motivational psychologist stated that most people do not succeed in New Year’s resolutions because they set their goals too high. Matt is sharing some of his resolutions for 2024 and grouped them into three resolution categories:
It is the time of year when many of us make New Year’s resolutions. During a recent NPR broadcast, a motivational psychologist stated that most people do not succeed in New Year’s resolutions because they set their goals too high. John is sharing some of his resolutions for 2024 and grouped them into three resolution categories:
Photo by Kajetan Sumila on Unsplash
Some Important Planning Points and Reminders for 2024 Read More »
If you are 70 ½ or older, you are able to donate a portion or all of your RMD directly to charity (up to $100,000 annual maximum). This is a great way to utilize your RMD if you regularly give to charity but otherwise no longer itemize your income tax deductions. Other tax favorable means
Year End Planning Points and Considerations for 2023 and Beyond Read More »
