The year 2024 brings with it a few significant changes to tax policies that individuals should be aware of. These changes include several modifications to income tax brackets, adjustments to the standard deduction, and changes to maximum retirement contribution limits. Additionally, the gift tax exclusion and phase-out levels for Individual Retirement Account (IRA) deductions will be changed. And let’s not forget about the new rules surrounding Roth IRAs and the Saver’s Credit, which are also worth noting. We encourage you to take some time to understand the implications of these modifications on your financial strategies and future planning. Stay informed, and make the most out of your financial situation by keeping up-to-date with these changes.