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US officials are now urging Americans to use encryption apps for calls and texts to protect their privacy amid a significant breach of telecoms by Chinese hackers known as Salt Typhoon. This marks a notable shift from previous government stances against strong encryption, highlighting vulnerabilities in US telecom infrastructure. Meanwhile, Russian hackers continue to exploit other hackers' infrastructure for espionage, and law enforcement has cracked down on cybercrime, sentencing members of the dark web marketplace Hydra.
Now is the ideal time to purchase both new and used electric vehicles (EVs) before potential tax credits diminish in 2025. Buyers can benefit from a used clean vehicle tax credit of up to $4,000 for qualified used EVs priced at $25,000 or less. Additionally, the current EV tax credit for new vehicles impacts used car prices, making them more affordable now, but likely increasing in cost once the credits are removed.
As the holiday season approaches, conversations about electric vehicles (EVs) may arise, often filled with misconceptions. Common arguments against EVs include concerns about charging time, cost, environmental impact, and electricity availability, all of which can be effectively countered with factual information highlighting the efficiency, incentives, and growing infrastructure supporting EV adoption. Understanding these points can help navigate discussions with skeptics and promote a more informed perspective on the future of transportation.
The IRS has announced updated income limits for Roth IRA contributions in 2025. For single or head of household filers, the modified adjusted gross income (MAGI) phaseout range is now $150,000 to $165,000, while for married couples filing jointly, it is $236,000 to $246,000. Those with MAGI above these thresholds cannot contribute to a Roth IRA, and the phaseout range for married filing separately remains unchanged at $0 to $10,000.
The IRS has announced that the 401(k) contribution limit will increase to $23,500 for 2025, while catch-up contributions for those aged 50 and older will remain at $7,500. However, savers aged 60 to 63 will see their catch-up contributions rise to $11,250, totaling $34,750. This update follows a series of inflation adjustments for various tax-related thresholds for the upcoming year.
The IRS has announced new IRA contribution limits for 2025, allowing some investors to deduct pretax contributions based on their income and access to workplace retirement plans. Additionally, the phase-out ranges for IRA deductibility have been increased for the upcoming year.
The great wealth transfer is set to shift an estimated $84 trillion by 2045, primarily to Gen X and millennial heirs. Experts emphasize the importance of estate planning, including wills and trusts, to ensure financial values are passed on effectively. With the lifetime estate and gift tax exemption rising to $13.99 million for individuals in 2025, families are urged to prepare, as future changes in legislation remain uncertain.
The Inflation Reduction Act of 2022 enables the development and sale of clean energy tax credits, with recent guidance from Treasury and the IRS focusing on electric vehicle charging stations and sustainable aviation fuel credits. The electric vehicle charging credit offers a 6% discount, potentially increasing to 30%, for stations in eligible low-income or rural areas, capped at $100,000 for businesses. Meanwhile, producers of renewable fuels express concerns over delayed rules for the clean fuel production credit, which is hindering investment in ethanol and other renewable fuels due to uncertainty in credit valuation based on greenhouse gas emissions standards.
The IRS has announced higher capital gains tax brackets for 2025, increasing the taxable income limits for long-term capital gains. For single filers, the 0% rate applies to those with taxable income of $48,350 or less, while married couples filing jointly qualify with $96,700 or less. Additionally, the standard deduction will rise to $15,000 for singles and $30,000 for joint filers.
The IRS has announced new federal income tax brackets for 2025, with rates ranging from 10% to 37% based on income levels. The standard deduction will increase to $30,000 for married couples and $15,000 for single filers. If Congress does not act, these tax cuts will expire, reverting to 2017 levels.

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