Crystal Wilson

As 2023 draws to a close, the IRS urges taxpayers to review their tax withholding promptly to avoid surprises when filing next year. Even adjustments made in the final weeks of the year can make a difference. The IRS provides resources like the Tax Withholding Estimator, aiding individuals in determining if they have the correct …

Smart Tax Planning: Avoid Surprises in 2024 with Strategic Withholding Read More »

In 2024, the IRS has increased the contribution limit for 401(k) plans to $23,000 and for IRAs to $7,000. Catch-up contributions for those 50 and older in 401(k) plans also rose, allowing a total contribution of $30,500. Income phase-out ranges for deductible contributions to traditional IRAs and contributions to Roth IRAs have been adjusted, providing …

Unlocking Your Retirement Potential: IRS Announces Key Changes for 2024 Read More »