IR-2024-273, Oct. 22, 2024WASHINGTON — The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025.Revenue Procedure 2024-40 PDF provides detailed information on adjustments and changes to more than 60 tax provisions that will impact taxpayers when they file their returns in 2026.Notable changes for tax year 2025The tax year 2025 adjustments [...]
Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5% in 2025, the Social Security Administration announced today. On average, Social Security retirement benefits will increase by about $50 per month starting in January.Over the last decade the cost-of-living adjustment (COLA) increase has averaged about 2.6%. The [...]
Understanding the Ages to Take Social Security BenefitsSocial Security benefits provide crucial financial support for retirees, but deciding when to start receiving these benefits can significantly impact your lifetime income. Once you make a decision and apply, there are very few situations where you can change the election. Here’s a general breakdown of the different [...]
Should you consider a portfolio stress test? With so many of you on your own when it comes to making decisions on your life savings, a little professional guidance can go a long way. When was the last time you stress tested your 401k or IRA? Why a Portfolio Stress Test Can Benefit You In [...]
Use this link to download the checklist, flowchart as a guide: Should-I-Contribute-To-My-Roth-IRA-Vs.-My-Traditional-IRA-2024 (1) (1)
https://vimeo.com/949286422?share=copy Over the next few months we will be doing videos with our Strategic Partners that may play a role in your financial life. This month's interview is with Corey Greifenkamp. Corey is a Full Service Mortgage loan officer with Compass Mortgage with a full range of loan products to suit your needs. Email: [email protected] Phone: 815-307-4290 [...]
Mark DiOrio, Chief Investment Officer at Brookstone Capital Management, shares Market Insights on "How the hottest investment may end up costing you" He is speaking about Money Market Funds. Watch this short video to see what he has to say. Learn more about Brookstone Capital Management, LLC. Brookstone Company Profile 2023 Investment advisory services [...]
Mark DiOrio, Chief Investment Officer at Brookstone Capital Management, shares some great insight on the S&P 500 and how to reduce your risk. Watch this short video.
The Inflation Reduction Act expanded the credits available for residential energy credits. You may now receive up to $1,200 per year thru 2032. In order to receive the credit(s), it will be up to YOU to determine if you qualify. If you replaced your furnace, air conditioner, hot water heater, windows, doors or insulation, please do the [...]
Life is an ever-evolving journey marked by significant milestones, personal growth, and unexpected changes. As life unfolds, your financial and insurance needs also shift, changing from year to year, decade to decade. A good example of this is life insurance. If you have a life insurance policy that you haven't reviewed recently, it may no [...]
