Under the Social Security Fairness Act signed by President Biden on January 5, 2025, almost 3 million Americans will receive a boost to their Social Security benefits.(1)
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Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts.
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The IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2025.
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It’s hard to talk about college without mentioning financial aid. Yet this pairing isn’t a marriage of love, but one of necessity.
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The 2.5% Social Security cost-of-living adjustment (COLA) for 2025 continues the return to a more typical adjustment after high inflation resulted in big COLAs in 2022 and 2023.
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