New 2024 Tax Changes You NEED To Know To Save Thousands

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NEW 2024 Tax Changes Every Taxpayer Must Know! Tax brackets have changed. Deductions have increased. There are new contribution limits for retirement accounts, HSAs, and so on.

Then if you earn 1099 income or own a business, there are even more changes you need to know about, from how you write off your business miles, vehicles, and the 20% QBI deduction.

As a taxpayer, it is very important that you understand what is going on with these things as it directly affects your pockets.

2024 Tax Changes: (0:00)
2024 Tax Brackets: (1:37)
2024 Capital Gains Tax: (2:48)
2024 Standard Deduction: (4:25)
2024 Retirement Contributions: (5:34)
2024 HSA Limits: (6:21)
2024 QBI Deduction: (7:30)
2024 Mileage Rate: (8:31)
2024 Depreciation Deduction: (9:19)

Sherman - My CPA Coach

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Thank you Sherman. I'm beyond frustrated with the many CPAs I've worked with. They all overpromise and under deliver 😢😢. Not one has EVER made one suggestion to mitigate my tax liabilities. I'm exhausted and wish I didn't need one, but the IRS makes it impossible 😭😭😭.

seneca

Your explanation is very clear, thank you 😊

kimtran

This is amazing! Thank you friend!😁 Hope you have a great weekend🙏🏼

carsonwilliams

Mind blown! I just realized that even if I make $240, 000 this year, not all of it will be taxed at 32%. The first 11k is taxed at 10%, the next 11k+ to 47k is taxed at 12%, 47k+ to 100k taxed at 22% and so on up the scale. Only about 50k will be taxed at 32%. I had no idea until you mentioned it at 2:00. I always do my own taxes and I wondered why the actual taxes I pay are always much lower than the bracket I'm supposed to be in. LOL! Wow! I'm usually in a 24% bracket, but was scared to death because I'll be bumped up to 32% this year.

hiphopjewels

Thank you for this valuable information!!

sassygirl

Hi Sherman, my business is in Real Estate Investing, can you help me with tax code deduction and savings for my Real estate business?

elainekargbo

I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025

AgnesHarperqx

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