2025 Projected Tax Brackets
Tax and Financial News
November, 2024
According to estimates, inflation adjustments to the internal revenue code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the U.S. Bureau of Labor Statistics consumer price index (CPI) moderating, this increase is about 50 percent less than 2024’s inflation adjustment. Below, we’ll look at what the projected 2025 inflation adjustment means in terms of dollars and cents for you and your taxes.
Individual Income Tax Brackets
The tables below illustrate what the individual income tax rates and brackets are projected to be for 2025.
Projected Individual Income Tax Brackets & Rates: Tax Year 2025
| Single Taxpayers |
| 10% |
0 – $11,925 |
| 12% |
$11,926 – $48,475 |
| 22% |
$48,476 – $103,350 |
| 24% |
$103,351 – $197,300 |
| 32% |
$197,301 – $250,525 |
| 35% |
$250,526 – $626,350 |
| 37% |
$626,351 and Over |
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5 Tips to Keep End-of-Year Spending Under Control
Tip of the Month
November, 2024
It’s that time of year again. Halloween has just come and gone – and now we’re hurtling headlong into Thanksgiving and Christmas. For holiday shopping, it’s tempting to turn a blind eye and put everything on your credit cards. However, if you don’t want to have a financial hangover in January, February (and so on), you might want to take a look at these tips.
Create a Budget and Stick To It
The earlier you sit down and do this, the better. Decide on a financial cap per gift per person, then shop. Then, get creative. For instance, what if you bought a pre-loved item for someone? Made something for someone? You might also decide on a gift, then shop around and compare. So, when Black Friday and Prime Days raise their heads, you’ll already have made your selections. More on that below.
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Pre-Retirement Planning Guide – Legacy Planning
Financial News
November, 2024
Step 6: Looking to Legacy Planning to Address Future Needs of Family
How do you want to be remembered? People often view their legacy as a way of disseminating assets to charitable venues to be remembered as passionate and generous supporters. That is one aspect of a legacy.
But perhaps the most important legacy plan is how you want to be remembered by your family, friends and loved ones. If you do not develop an estate plan and communicate it with your loved ones, if you leave your financial accounts and investments in a state of disarray by not keeping files organized and beneficiaries updated, then you leave a huge burden behind when you pass away.
This may very well mar the fine memory your loved ones have for you. After all, having to manage a complex or messy estate over a long period of time could overwrite the previously fond memories they had for you. No one wants their legacy blemished by administrative chaos, so now is the time to get your financial house and estate plan in order. Don’t let the last memories of you be ones of aggravation and bitterness.
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