The Illinois CPA Society offers five money moves to make before the end of the year to create some tax-time savings now and in the year ahead.

These tips can help you spread the love even more to charities you trust while also taking advantage of different kinds of tax benefits.

Those who are not ready for this potentially seismic shift should speak to their advisors as soon as possible in order to take advantage of planning opportunities.

Individuals making less than $36,500 annually can save up to $1,000 in taxes if they contribute toward their retirement.

The IRS has relented to pressure and decided to delay imposing the new $600 reporting threshold for income from 3rd party apps like PayPal and Venmo.

Discover the interest rates announced by the IRS for the first quarter of 2024, including rates for overpayments and underpayments of taxes, and learn about the process of claiming the recovery rebate credit for uncollected stimulus payments issued in 2020 and 2021.

Discover the increased gift and estate tax exempt limits set by the IRS, allowing Americans to give more without incurring taxes, including an increase in the annual gift tax exclusion to $18,000 and a lifetime gift tax exemption of $13.61 million in 2024, providing an opportunity to reduce taxes and enhance the lives of loved ones.

Discover the wide-reaching consequences of the Russia-Ukraine conflict on your finances, including higher gas and grain prices, increased crypto volatility, stock market dips, and surges in gold prices, and learn how to navigate this economic storm while extending support to those affected.

This guide aims to illuminate the top tax issues faced by medical professionals and offer insights to traverse this taxing journey efficiently.