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Alimony: Definition, Qualifying Criteria, and Exclusions Explained
Post-2018 divorce instruments: alimony nondeductible for payers and not taxable to recipients. Pre-2019 instruments generally follow old deduct-and-include rules unless…
TCJA Suspension: Moving Expense Deduction Rules and Military Exception
Moving expense deductions are unavailable to civilians through 2025 and permanently repealed for non-military taxpayers from 2026; active-duty members with…
2024 Educator Expense Deduction Rules and Qualified Expenses Explained
The Educator Expense Deduction stays at $300 and the Student Loan Interest Deduction remains up to $2,500 for 2025. Eligible…
Roth IRA Contribution Limits, MAGI Phases and 2024 Thresholds Explained
2024 Roth IRA eligibility depends on MAGI and filing status, with phase-outs for singles ($146k–$161k) and joint filers ($230k–$240k). Roths…
IRA Contribution Limits Hold at $7,000/$8,000 for 2024-2025
IRS held IRA limits at $7,000 (under 50) and $8,000 (50+) for 2024–2025; contributions are limited by the lesser of…
IRA Contribution Deadline Rules and Example for Tax Years
IRS rules permit 2024 IRA contributions through April 15, 2025; 2024–2025 limits are $7,000 (under 50) and $8,000 (50+). Recharacterizations…
What Counts as Compensation for IRA Contributions and Exceptions
In 2025, IRA contributions still require taxable earned income—compensation—with limits of $7,000/$8,000. Combat pay qualifies; excluded foreign earned income does…
2025 Spousal IRA Rules: Contribution Limits, MAGI Phaseouts
For 2025, spouses filing jointly can use the spousal IRA: $7,000 each under 50, $8,000 if 50+. Full Roth allowed…