FINANCIAL PLANNING TIDBITS: 2025 CONTRIBUTION LIMITS AND STANDARD DEDUCTION ANNOUNCED

The IRS adjusted the 2025 contribution limits for some retirement accounts, and next year will be the first implementation of a new provision for earners age 60 through 63.

Insights, Financial Planning TidbitNatalie BrownNovember 15, 2024Day Hagan Private WealthFinancial Planning, Wealth Planning, IRS, Taxes, Hurricane Debby, Hurricane Milton, Hurricane Helene, Tax Day, Tax-Exempt, Retirement

FINANCIAL PLANNING TIDBITS: 2024 TAX EXTENSIONS AND RELIEF OPTIONS FOR STORM-AFFECTED AREAS

For taxpayers impacted by recent storms across the Southeastern United States, the IRS has extended key deadlines for filing and paying 2024 taxes and provides guidance for relief.

Insights, Financial Planning TidbitNatalie BrownOctober 31, 2024Day Hagan Private WealthFinancial Planning, Wealth Planning, IRS, Taxes, Hurricane Debby, Hurricane Milton, Hurricane Helene, Tax Day, Tax-Exempt, Retirement

WHY DID I RECEIVE AN INTEREST PAYMENT FROM THE IRS?

The disaster-related postponement of the tax deadline from April 15 to July 15 has required that the IRS pay out interest on tax refunds, and those payments are starting to go out.

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