Happy New Year!
Welcome to 2025! Thank you for your continued support of our firm and for the relationships that we have formed over the years.
We know it’s only January, but never too early to schedule a meeting to have your tax return prepared. Our accountants are ready and eager to meet with you now to help you file a timely return.
Check your email for information from our office and please feel free to call at (215) 368-5755 at your earliest convenience to schedule an appointment now.
Wishing you good times, good cheer and a memorable new year.
Dates to remember
January 15, 2025 - Fourth and final installment of 2024 estimated tax by individuals, trusts, estates and certain residuary trust
January 31, 2025 - Fourth quarter payroll tax returns due date and providing W-2’s to employees and 1099-Misc. forms to subcontractors.
2025 IRS Announcement
The IRS has announced the 2025 contribution limits for flexible spending accounts (FSA), commuter benefits, and more.
Here’s a look at what’s changing:
Health FSA: $3,300 (Increased from $3,200).
HSA Limits: $4,300 for individuals and $8,550 for families.
Commuter (Parking and Transit): $325 per month (Increased from $315).
Dependent Care annual limits will remain $5,000 for single taxpayers and married couples filing jointly or $2,500 for married people filing separately.