Tag Archives: gift tax
The IRS recently released the 2024 cost-of-living adjustments to various provisions of the tax code, which you will use to file your federal income tax return in 2025. Marginal Income Tax Rates The following rates apply to individuals’ income in 2024. 37 percent for individual, single taxpayers with incomes greater than $609,350 ($731,200 for married […]
Naming beneficiaries to receive proceeds from a life insurance policy or retirement account is a difficult decision that requires consideration of a range of factors. Because these selections supersede designations in your will, they are an important step in the estate-planning process that must be addressed with particular care and attention to detail. Selecting Beneficiaries […]