Tag: Individual Tax

If you made significant gifts to your children, grandchildren, or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in

You may wonder if you can claim itemized deductions on your tax return. Maybe you made charitable contributions and were told in the past they couldn’t be claimed because you

If your tax bill is higher than you’d like as you begin to file your 2024 tax return, there may still be a chance to lower it. If you’re eligible,

For families with qualifying children, the Child Tax Credit (CTC) has long been a valuable tax break. Whether you’re new to claiming the credit or you’ve benefited from it for

Retirement is often viewed as an opportunity to travel, spend time with family, or simply enjoy the fruits of a long career. Yet the transition can bring many tax considerations,

Chances are, right now you’re more concerned about your 2024 tax return than you are about your 2025 tax situation. That’s understandable because April 15 is the filing deadline for

The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and processing 2024 tax year returns.

Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA, and SEP IRA. It’s

As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several U.S. tax code tools and strategies may help ease

Saving for retirement is an important financial goal, and contributing to a 401(k) plan is a great way to achieve it. If your employer offers a traditional 401(k) or Roth