Section 179 of the Internal Revenue Code allows businesses to deduct the cost of certain capital assets in the year they are purchased, rather than depreciating them over several years. For 2025, the Section 179 deduction limit is $1,080,000. This means that businesses can deduct up to $1,080,000 of the cost of qualifying assets in the year they… Read More »
The 2025 Roth 401(k) contribution limits have been recently announced by the Internal Revenue Service (IRS). The contribution limit for Roth 401(k) plans will increase from $20,500 to $22,500 for 2025, and the catch-up contribution limit for individuals age 50 and older will increase from $6,500 to $7,500. Roth 401(k) plans offer a unique opportunity to save for… Read More »
FSA limits for 2025 refer to the annual contribution limits set by the Internal Revenue Service (IRS) for Flexible Spending Accounts (FSAs). These accounts allow employees to set aside pre-tax dollars to cover qualified medical expenses and dependent care costs. The limits for 2025 have not yet been announced by the IRS, but they are expected to increase… Read More »
Conventional loan limits for 2025, as set by the Federal Housing Finance Agency (FHFA), determine the maximum amount of money that borrowers can borrow to purchase a home using a conforming conventional mortgage. Conforming conventional mortgages are those that meet the guidelines set by Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) that purchase and guarantee… Read More »