Four Financial Management

12/27/2024

The IRS announced adjustments for 2024, which address a few key areas:
https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024.

What does that mean for you?

There are changes to capital gains tax rates, annual exclusion for gifts, estate tax exclusion, and more.

Have questions about the new rules? My office has 2024 tax resources that you may find helpful.

This material is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax professional before modifying your tax strategy.

12/25/2024

Wishing everyone a joyful holiday season, filled with peace, love, and warmth, no matter what you celebrate. May this time bring you happiness, connection, and a little extra sparkle in your life. Here's to new beginnings and cherished moments with those you hold dear!

12/20/2024

12/19/2024

The IRS has released the 2025 tax brackets with a 2.8% inflation adjustment—the smallest increase in several years.

Here's what's changing:
➡️ Standard deduction for married couples filing jointly rises to $30,000
➡️ Single filers' standard deduction increases to $15,000
➡️ Annual tax-free gift limit grows to $19,000 per recipient
➡️ Estate tax exclusion reaches $13.99 million (up from $13.61 million)
➡️ Earned Income Tax Credit maximum increases to $8,046 for qualifying families

Understanding how tax brackets work remains crucial: you're only taxed at higher rates for income above each threshold, not your entire earnings. For example, if you're married filing jointly, you'll pay 10% on the first $23,850 of taxable income, then 12% on earnings above that amount.

Important note: Some provisions aren't changing in 2025, including the $10,000 SALT deduction cap and the $2,000 Child Tax Credit. ⚖️


Source:

The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.

12/18/2024

The holidays are about giving—and planning. 🎁

Gift yourself financial confidence by joining our 'Surviving as a Survivor' webinar. Register today for essential insights!

Losing a spouse is one of life's most challenging moments, and being unprepared for the financial impact can make it even harder.

12/17/2024

Success isn't just about the numbers in your bank account - nearly 60% of Americans say true success means having the freedom to spend on what brings them joy. Living your values doesn't have to conflict with building your financial future.

💭 While many of us face economic pressures and paycheck-to-paycheck challenges, creating a personal financial framework that balances today's happiness with tomorrow's needs can make a real difference. Finding that sweet spot between saving and living in the moment is key.

Instead of rigid rules, consider what brings meaning to YOUR life and build from there. Sometimes, it's the small joys—like that perfect cup of coffee—that make all the difference.


Source:

About 59% of surveyed U.S. adults say the ability to spend money on things and activities that make them happy is the top sign of success, a report found.

12/16/2024

Holiday spending doesn’t have to derail your financial goals. 🎁

Let’s balance festive cheer with smart strategies. Download our guidebook to plan your way to a brighter future.

"Before It's Too Late: Are You Truly Prepared for Life's Unthinkable Moments?" is designed for people like you, who have worked hard to build a solid financial foundation and want to help ensure it stays that way. Ever find yourself asking these questions?

12/13/2024

Always Ready, Always There. 🇺🇸

The National Guard’s commitment inspires us to help you be prepared for life’s uncertainties. Start your journey with our guidebook today.

12/12/2024

🤧Did You Know?🤧 The vaccine changes to adapt to the virus every year, so get one annually. ⏳

12/10/2024

Love animals? 🐾

So do we! On International Animal Rights Day, let’s talk about how charitable giving can support causes close to your heart. Building a financial legacy is about making a difference.

12/09/2024

🤧Did You Know?🤧 A flu vaccine typically lasts about six months. 💪

12/08/2024

Did you know today is National Health Savings Account Day? 💰

If you’re not taking advantage of this powerful savings tool, you might be leaving money on the table. Let’s make your healthcare dollars work smarter.