The IRS has announced new income limits for its seven tax brackets for 2025, with income thresholds increased by about 2.7% to adjust for inflation. This follows a 5.4% increase in 2024 and a historically large 7% bump in 2023. Reaching a top one percent income is becoming more challenging given the threshold keeps increasing … Read more
As the season changes, a new budget has been announced by the government. Despite rumours of a Capital Gains Tax (CGT) increase for second homeowners, on the 30th of October 2024, Chancellor Rachel Reeves declared that the rate for CGT on residential properties will not change. The Capital Gains Tax rates for residential properties will … Read more
Considering how few people ever have to pay it, there’s always a lot of worry and political noise about capital gains tax on shares. Capital gains tax (CGT) falls due on investments you sell for a profit in any given tax year, unless: The asset is sheltered in your ISAs or pensions. Your gains can … Read more
Since the Tax Cuts & Jobs Act (TJCA) was passed in 2017, few households have been subject to the Alternative Minimum Tax (AMT), which TCJA restructured so that it applied mainly to a select number of upper-income households. But with the anticipated sunset of TCJA in 2026 and the reversion to the pre-2018 AMT rules, … Read more
Unsure about how to change your car tax class to, or from, disabled? Or are you looking to move your tax to another car? Either way, find out everything you need to know about changing your car tax if you are a driver with a disability. How do I register my car for disabled car … Read more
