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Navigating 2025 Tax Brackets and Beyond: Essential Tips for Tax Planning

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Manage episode 448632876 series 3470804
内容由Kyle Hammerschmidt提供。所有播客内容(包括剧集、图形和播客描述)均由 Kyle Hammerschmidt 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

Send us a text

In this episode, we’re diving into a topic that’s going to impact everyone’s finances in the coming year: the new 2025 federal income tax brackets. The IRS recently announced adjustments to the tax bracket ranges to keep up with inflation, helping taxpayers avoid "bracket creep" — the phenomenon where inflation alone pushes you into a higher tax bracket without any real gain in purchasing power.

We’ll break down what these changes mean for different income levels and compare them to 2024’s brackets. Plus, we’ll explore updates to the standard deduction, which could significantly affect your taxable income. And looking ahead, we’ll discuss the upcoming sunset of the Tax Cuts and Jobs Act and its potential effects on tax rates.

By the end of this episode, you’ll have a clear understanding of how these adjustments could affect your take-home pay, retirement planning, and overall tax strategy. Tune in to get informed and empowered to make smart decisions in the evolving tax landscape.
Sources:
https://www.thetaxadviser.com/issues/2023/dec/tax-planning-for-the-tcjas-sunset.html

https://www.kiplinger.com/taxes/new-income-tax-brackets-are-set

Connect With Us:
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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icon分享
 
Manage episode 448632876 series 3470804
内容由Kyle Hammerschmidt提供。所有播客内容(包括剧集、图形和播客描述)均由 Kyle Hammerschmidt 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

Send us a text

In this episode, we’re diving into a topic that’s going to impact everyone’s finances in the coming year: the new 2025 federal income tax brackets. The IRS recently announced adjustments to the tax bracket ranges to keep up with inflation, helping taxpayers avoid "bracket creep" — the phenomenon where inflation alone pushes you into a higher tax bracket without any real gain in purchasing power.

We’ll break down what these changes mean for different income levels and compare them to 2024’s brackets. Plus, we’ll explore updates to the standard deduction, which could significantly affect your taxable income. And looking ahead, we’ll discuss the upcoming sunset of the Tax Cuts and Jobs Act and its potential effects on tax rates.

By the end of this episode, you’ll have a clear understanding of how these adjustments could affect your take-home pay, retirement planning, and overall tax strategy. Tune in to get informed and empowered to make smart decisions in the evolving tax landscape.
Sources:
https://www.thetaxadviser.com/issues/2023/dec/tax-planning-for-the-tcjas-sunset.html

https://www.kiplinger.com/taxes/new-income-tax-brackets-are-set

Connect With Us:
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

  continue reading

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