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The 2025 Limit on IRA Contributions is $7,000.
The 2025 limit on IRA contributions is $7,000. The IRA catch-up contribution limit for those age 50 or older is $1,000. You can claim a deduction for a traditional IRA if you meet certain conditions.
Maximize Your 401(k) in 2025: Smart Strategies for a Secure Retirement
In the new year, you may want to contribute new amounts to your employer’s 401(k) plan or Roth 401(k). Here are the contribution limits for 2025.
The IRS Has Issued the 2025 Cents-per-mile Rates That Can Be Used to Calculate Tax-deductible Vehicle Operating Costs.
On Jan. 1, 2025, the standard mileage rate business use of vehicles will go up 3 cents per mile from 2024's rate.
Savings Bonds and Taxes: What You Need to Know
Did you know that interest from U.S. savings bonds is taxed at the federal level but not at the state or local levels? Here’s a look at the tax implications of investing in savings bonds.
Can You Claim the American Opportunity Tax Credit (AOTC) or Lifetime Learning Credit (LLC) for Tuition Expenses?
If you pay tuition expenses by December 31st, you could secure a last-minute tax break if you're eligible. Learn more here.
The Tax Treatment of Intangible Assets
Properly managing the tax treatment of intangible assets is vital for businesses to maximize tax benefits and ensure compliance with tax regulations.
If You're 73 or Older, Time is Running Out to Take This Year's Required Minimum Distributions from Retirement Plans.
RMDs are subject to a 25% excise tax on the amount the taxpayer should have withdrawn if not withdrawn on time.
Drive Down Your Business Taxes with Local Transportation Cost Deductions
The average price of gas is down more than 20 cents per gallon from a year ago. That may affect the tax deductions for local transportation costs that your business can claim for 2024. Here’s what you can write off.
Federal Court Rules Against DOL’s “White Collar” Overtime Rule
A federal court has struck down a new rule regarding the salary threshold for determining whether employees are exempt from federal overtime pay requirements.
Beginning in 2024, Eligible Senior Taxpayers May Donate More from Their IRAs with Qualified Charitable Distributions (QCDs).
Owners or beneficiaries of IRAs who are 70½ or older can make QCDs directly to IRS-approved charities.
Indiana's New Sales Tax Exemption for Restaurant Utilities - Effective Jan. 1, 2025
Starting January 1, 2025, Indiana restaurants may be able to claim a 50% sales tax exemption on electricity usage without conducting a utility study. Here's more information.
How Inflation Will Affect Your 2024 and 2025 Tax Bills
Inflation has slowed down considerably in the last couple of years. What does this mean for your federal tax bill? Here are the inflation-adjusted amounts for several provisions in 2025, compared to 2024.

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