Year-to-Year Changes
In most years, tax brackets change as they are adjusted for inflation. The amounts you can contribute to accounts such as IRAs/Roth IRAs, 401k’s, and HSAs have all increased for 2024. The income cap for each of the different tax brackets also increased. Each year, we put together a document summarizing the important tax numbers for the coming year.
Since we work with women facing new beginnings, we have included information for those who file as “Head of Household.” Oftentimes, those who are widowed or divorced file their returns with this designation. Many other similar tax documents only include data for those who file as single or married filing jointly. Knowing the information in our 2024 Important Numbers Document can help you lower your 2024 lifetime tax bill. If you would like a copy of Apprise’s 2024 Important Numbers document, please send an email to info@apprisewealth.com. We will be happy to send you a copy.
Thanks for listening and have a great day.
Some Additional Thoughts
If you are interested in discussing what tax planning opportunities may apply to your situation or how they could add value to your financial plan, please contact us. We would be happy to discuss them with you.
If you would like to talk to us about creating your life plan as well as other financial topics including your investments, saving for college, and/or saving for retirement, please complete our contact form or schedule a call or a virtual meeting via Zoom. We will be in touch.
Our practice continues to benefit from referrals from our clients and friends. Thank you for your trust and confidence.
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For firm disclosures, see here: https://apprisewealth.com/disclosures/
Phil Weiss founded Apprise Wealth Management. He started his financial services career in 1987 working as a tax professional for Deloitte & Touche. For the past 25+ years, he has worked extensively in the areas of financial planning and investment management. Phil is both a CFA charterholder and a CPA.
Located just north of Baltimore, Apprise works with clients face-to-face locally and can also work virtually regardless of location.
