At EC Barrett, LLC, we believe estate and tax planning should be clear, accessible, and actionable. With the IRS releasing its 2025 updates, now is the perfect time to review how gift tax rules may affect your financial strategy.        Key 2025 Gift Tax Updates   - Annual Exclusion: You can now give up to $19,000 per recipient in 2025 without triggering a filing requirement (up from $18,000 in 2024).   - Lifetime Exemption: The unified estate and gift tax exemption is $13.99

As 2025 draws to a close, it may be tempting to put off thinking about taxes until the new year. But the IRS is encouraging taxpayers to start preparing now for the 2026 tax season—and for good reason. The earlier you get organized, the more control you’ll have over your filing process, potential refunds, and peace of mind. Early preparation doesn’t just save time; it can also save money and help prevent costly mistakes. This year’s tax season is shaping up to be especially u

As we approach the end of the year, it’s time to start thinking about your tax strategy for 2025 and 2026. The IRS has released updated tax brackets and standard deductions, and there are some important new benefits for seniors that could significantly reduce taxable income.   Here’s what you need to know :    2025 Federal Income Tax Brackets Tax Rate Single Filers Married Filing Jointly 10% Up to $11,000 Up to $22,000 12% $11,001 – $44,725 $22,001 – $89,450 22% $44,726 – $95