The clock is ticking for British Columbia residents for the Bc hydro $100 rebate. It’s a golden opportunity for all B.C. residents and businesses to earn a cool reward for cutting their power usage by 10% over the year. Stay tuned to get more details! BC Hydro $100 Rebate The B.C. Hydro Program has offered … Read more
For 2024, the IRS sets limits for Health Flexible Spending Accounts (FSAs). The maximum salary reduction limit is $3,050, and there’s a carryover limit of $610. These limits affect employee contributions to FSAs, impacting how much can be set aside for various health-related expenses. Stay informed to ensure compliance with these adjusted figures in your … Read more
In 2024, the 401(k) contribution limit is set at $23,000, representing a $500 increase from the previous year’s limit of $22,500. This adjustment allows individuals to contribute more toward their retirement savings, making it a key consideration for financial planning in the upcoming year. 401k Contribution Limits 2024 In 2024, the 401(k) contribution limit is … Read more
For 2024, the IRS has elevated the 401(k) annual contribution limit to $23,000 from the previous $22,500, offering individuals a greater capacity to save for retirement through these tax-advantaged accounts. 401k 2024 Contribution Limit IRS In 2024, the IRS has increased the 401(k) contribution limit to $23,000, providing individuals with an opportunity to save more … Read more
Eligible households are receiving assistance from the Queensland Governments through the Energy Bill Relief Fund. The Queensland government’s cost-of-living relief package is an extension of this assistance, commencing from 1 July 2023. Cost Of Living Rebate Queensland’s ownership share in the state’s energy assets is primarily responsible for the Cost of Living Rebate. The Australian … Read more
Seniors over 65 can claim an additional standard deduction, with amounts varying based on filing status. For example, it’s $21,150 for the head of household and $27,300 (or $28,700 for both partners) for married couples filing jointly. IRS Standard Deduction for Seniors Over 65 In addition to the ordinary standard deduction, you are also entitled … Read more
Facing tax debt can be a stressful and overwhelming Experience. Thе IRS offеrs long term and short term paymеnt plan options to hеlp taxpayers resolve thеir tax liabilitiеs and avoid furthеr penalties and interest. IRS Payment Plan A paymеnt plan is an agrееmеnt with thе IRS to pay your taxеs ovеr timе. You should rеquеst … Read more
Taxablе incomе is your “nеt incomе” aftеr dеductions, usеd to calculatе your tax bill for thе yеar. It’s basically your total incomе minus allowеd dеductions. How to calculatе IRS taxablе incomе? Taxablе incomе constitutеs thе portion of your ovеrall incomе subjеct to taxation within a spеcific tax yеar. It can bе broadly dеfinеd as your … Read more
The IRS Direct File, is a pilot program launched for the 2024 tax season, is a free and secure electronic filing option allowing eligible taxpayers to directly submit their federal tax returns to the IRS. IRS Direct File The IRS Direct File is an innovative electronic filing option developed by the Internal Revenue Service (IRS) … Read more
Taxpayers can file their IRS taxes for free through the IRS Free File Program. This initiative, a collaboration between the IRS and tax software vendors, provides two options: Guided Tax Preparation and Free File Fillable Forms. Individuals with an Adjusted Gross Income (AGI) of $73,000 or less can avail themselves of free federal tax return … Read more