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Tax and financial planning news from around the web: November 18 – 22, 2024
Written on Nov 22, 2024
The IRS announced that interest rates will decrease for the calendar quarter beginning Jan. 1, 2025. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Read on for a complete list of the new rates.
IRA owners age 70½ and older can make up to $105,000 in tax-free charitable donations during 2024 through qualified charitable distributions. That’s up from $100,000 in past years.