Since 2012, theKFORDgroup has created our Tax Pocket Guide to help both businesses and individuals understand the changes in taxes year-to-year and pertinent information for tax filings. Our Tax pocket Guide is available at our office and online (download at the button below) year-round for your reference.
Here are the top three changes to be aware of when filing your taxes for 2024:
- Annual Gift Tax exclusion increase from $17,000 to $18,000
- Standard mileage Rate for Business Car Usage increase to 67 cents/mile from 65.5 cents/mile
- Contribution limit for 401(k) plan increase from $22,500 to $23,000
If you need help or have questions about filing your 2022 taxes, our team is here to help!
Download your 2024 Tax Pocket Guide here