Tag: Individual Tax

While traditional IRAs and Roth IRAs have been around for a while, the associated regulations have undergone many revisions over the years. Most recently, the Secure 2.0 law in late

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and processing 2023 tax year returns.

The ‘kiddie tax’ is a provision that may result in a portion of a child’s unearned income being taxed at their parent’s higher marginal federal income tax rates, rather than

If making your health a priority is among your New Year’s resolutions, you might wonder if you can offset your out-of-pocket medical expenses on your tax return. The eligibility for

Upon retiring, contemplating a relocation to another state might cross your mind, whether motivated by a desire for milder weather or proximity to family. However, it’s crucial not to overlook

Financial compensations and settlements are commonly granted for various reasons, including receiving compensatory and punitive damages for personal injury, discrimination, or harassment. In this instance, a portion of these funds

You might be familiar with the term “nanny tax,” but even if you don’t have a nanny, it’s important to consider. Employing a housekeeper, gardener, or any other household staff

If you have concerns, there may still be time to reduce your 2023 tax bill. Here are four quick strategies that may help you reduce your taxes before year end.

If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care costs, an important deadline is approaching. You may have to

Recently, the IRS announced several 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023.