Friday, January 17, 2025
The IRS has announced several key updates for 2025 affecting various retirement accounts, health savings plans, Social Security, and tax provisions. Here’s a summary of the changes: Retirement Account Contribution Limits: 401(k), 403(b), and Governmental 457 Plans: The contribution limit increases to $23,500, up from $23,000 in 2024. Catch-Up Contributions […]
Georgia has restructured its tax system for 2024, introducing changes that affect income, property, and sales taxes, with provisions for retirees and residents aged 65 and older. Below is a detailed overview: Income Tax Flat Tax Rate: As of January 1, 2024, Georgia has adopted a flat income tax rate […]
Retiring at 62 can be an attractive option for many, but it’s crucial to be aware of several key points that could significantly impact financial stability and overall well-being. Here are some crucial considerations: 1. Reduced Social Security Benefits Early Retirement Reduction: Retiring at 62 means you will receive reduced […]
As people age, they become more susceptible to various health risks. Here are the 10 biggest health risks for individuals aged 50 and older, along with tips for care and prevention: 1. Cardiovascular Disease Care and Prevention: Diet: Eat a balanced diet rich in fruits, vegetables, whole grains, and lean […]
Here is a detailed overview of California’s tax information for 2024, including income tax brackets, property tax, sales tax, and other specific taxes relevant to residents, with a focus on how pensions, retirement income, and investment income are taxed, as well as potential tax breaks for residents aged 65 or […]