By Kemberley Washington, CPA, Bankrate.com (TNS) As the end of the year approaches, now’s the time to start preparing for filing your 2024 tax return in 2025. When it comes to tax strategies, generally Dec. 31 is the deadline to make changes that might lower your tax bill. One major exception is the deadline for contributing to a Roth or traditional IRA : You have until April 15, 2025, to make a contribution to a Roth or traditional IRA for tax year 2024. If you qualify for deductible IRA contributions , then a contribution to your traditional IRA can reduce your taxable income for 2024. Here are tips and strategies to prepare now for the 2025 tax-filing deadline. If you had significant changes in your life in 2024 — maybe you got married or divorced, started your own business, or had to claim unemployment benefits — your taxes may be more complicated. As a result, you might need to hire a certified public accountant (CPA), enrolled agent (EA) or other tax professional to prepare and file your taxes. If you decide to hire someone, it’s best to start planning for that sooner rather than later. Waiting until the calendar flips to April could cost you. The average fee for a professional to prepare and file a simple Form 1040 tax return, with no itemized deductions, is about $220, according to a survey by the National Society of Accountants in 2020-2021, the most recent data available. But that amount rises quickly for more complex returns, and varies depending on where you live. For example, a Form 1040 with itemized deductions costs an average of $432 in states on the Pacific Coast, compared with $285 in New England. No matter where you live, prices usually rise as the tax deadline approaches, so it’s smart to start searching for a tax pro soon. If you’re uncomfortable doing your taxes on your own and can’t afford a CPA, enrolled agent or other tax pro, or to pay for tax software , there are free options to consider. The IRS currently offers three ways to prepare your taxes for free: •With the IRS Free File program, the IRS partners with for-profit tax-software companies that offer free tax-prep software to eligible taxpayers so they can file their federal tax returns for free. Some taxpayers may also qualify for a free state tax filing, depending on the software provider. In January, the IRS will announce the income limit to qualify for the program for the 2025 tax season (for filing 2024 tax returns). For the 2024 tax season (2023 tax returns), taxpayers’ adjusted gross income (AGI) couldn’t exceed $79,000. •The IRS also offers its Direct File program, a free tool that allows you to file your federal income tax return directly with the IRS at no cost. The program supports simple tax returns and is available only in certain states. Check to see if you qualify here. •Another free-filing option is the Volunteer Income Tax Assistance (VITA) program. IRS-certified volunteers offer free basic tax preparation in person to people who earn less than $67,000 a year, are disabled or whose English is limited. The IRS has an online location tool for hundreds of free tax preparation sites in the U.S. (the locator tool is updated from February through April). Some VITA sites also offer online tax-prep assistance. Now is a good time to create an IRS online account. If you want to see your Form 1040 from last year, or you’re missing a prior year Form W-2 or mortgage interest statement, you can find your documents using this free tax tool. Another benefit of creating an IRS online account is that it allows you to quickly obtain your prior year’s tax information without sitting on the phone for hours with an IRS representative, says Carl Johnson, a certified public accountant in New Orleans. An IRS online account also lets you view your account balance and payment history for each year. You can also create a payment plan to settle your federal income tax debt within minutes. If you’re 73 years old and have enjoyed watching your 401(k) or IRA grow tax-free without touching it, remember that the IRS is going to want its share each year. That means you’ll have to make withdrawals — and pay income tax. If you turned 73 in 2024, plan to take your required minimum distribution (RMD) at the latest by April 1, 2025. Read this IRS bulletin for more information. The amount of your RMDs is based on your age and the year-end values of your retirement accounts. A Roth IRA has two big tax advantages over a traditional IRA : Qualified withdrawals are not considered income for federal (and usually state) tax purposes, and you don’t have to take distributions from a Roth every year once you reach age 73. Converting a traditional IRA to a Roth IRA may save you money in the long run. Just know that when you convert an IRA to a Roth, it’s considered taxable income, which will raise your tax bill for that year. Generally, it’s best to convert to a Roth IRA when you’re in a low-income year. As tax season approaches, many people start receiving phone calls, emails and texts from entities claiming to be the IRS. Be wary, and understand that these are scams. Typically, the IRS will mail you a notice before using any other method of communication to notify you concerning issues with your tax return. The IRS won’t reach out via social media or text messaging. Relatedly, the IRS warns taxpayers to be careful when choosing a tax preparer. Taking time to vet your tax preparer is crucial to protect yourself from tax scams and fraud. Before hiring a tax professional, search that person’s name in the IRS database of federal tax return preparers to avoid dishonest “professionals.” “Taxpayers should check the tax professional’s credentials,” Johnson says. Tax pros without credentials “may take questionable positions without any degree of scrutiny or fear of losing their access to the profession,” Johnson says. Taxpayers who don’t file a tax return and owe a tax bill, or who file but don’t pay their tax bill on time, risk severe penalties. The IRS can even seize assets if necessary. Respond quickly if the IRS has been sending you letters because it found an error on your return or claims you owe back taxes. Typically, the IRS will send you a notice if you have a balance due, changes were made to your tax return, or the agency needs additional information. “If you ignore a collection letter from the IRS, you may face wage garnishments, liens, bank levies, and other adverse action. And in some cases, the amount due may increase for failure to respond,” Johnson says. Keep in mind the IRS does offer installment plans and other payment plans. Make copies of your correspondence and use only the U.S. Postal Service, the postmark from which is your proof of timeliness when responding. But whatever you do, don’t ignore the IRS because this may cause more issues in the future. ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.

Cannabis cafes and expanded outdoor drinking? An end to a banking fee? More protections for your credit score if you face medical debt? These are among the roughly 1,000 new laws hitting California starting the first day of 2025. If that sounds like a lot, it could have been much more: California lawmakers introduced nearly 5,000 bills in the most recent legislative session ending this fall, a two-year period that saw nearly half die without a single vote . In all, lawmakers passed about 1,200 bills in 2024 and Gov. Gavin Newsom vetoed 200 of those . And that’s the bureaucratic funnel in a nutshell. Most of these incoming laws are technical, fix previous laws or are narrow in scope. But there are some that affect lots of Californians, or are just plain interesting. There are the consumer finance protection laws, numerous education-related laws — including one to expand alcohol education that was written by a former lawmaker arrested for a DUI — as well as a law banning local voter ID rules and another granting a few more days to fight an eviction. Paris Hilton makes a cameo, too. CalMatters reporters describe some of the noteworthy laws taking effect Jan. 1. Dive in to stay informed about the changes that matter to you — and keep coming back as we add more stories about new laws before 2024 rides off into the California sunset.Is the famed Bridgerton palace haunted?

Chiefs earned a rest after their third win in 11 days. For some, the rest could be 24 days

What 14 Analyst Ratings Have To Say About Apple

Back in 2008, Charlotte the sea turtle got hit by a boat, leaving him with spinal damage and a paralyzed set of back flippers. The tragic accident resulted in a funny-sounding but also still tragic medical problem. Bubble Butt Syndrome is a delightfully childish name for a rather sad condition. It’s when a turtle has air trapped in their shell after sustaining some kind of physical trauma. Charlotte, a green sea turtle who calls Connecticut’s Mystic Aquarium his home, was left floating in awkward positions that had her butt sticking out the top of the surface of the water. Imagine one of the ways you get your food is by diving below the surface of the water, only you can’t because you have a flotation device around your waist keeping your lower half hovering around the surface. That was Charlotte’s life. Videos by VICE Charlotte’s veterinary team tried all sorts of ideas to get him swimming again. They tried adding weights to his body. When that didn’t work, they added a fabric sling that added a little bit more weight to his rear end. They got caught on a wall and torn off. Nothing was working until someone had the ingenious idea of bringing some modern 3D printing technology into the fold. Sea Turtle Swimming Thanks to 3D-printed Harness In collaboration with 3D printing companies Formlabs and Adia, along with New Balance Athletics, the team was able to design and print a lightweight, flexible, and adjustable harness that allows Charlotte to swim more naturally. When the harness was finally ready, they strapped it to Charlotte, who quickly took to the new weight and balance it provided. After years of struggling with Bubble Butt, Charlotte was finally swimming like a normal sea turtle again. In time, more weight will be added to the harness to increase its buoyancy. So far, the harness is working so well that Formlabs is working out how to scale the project so aquariums around can upload a scan of a turtle suffering from Bubble Butt and, using an online design tool, export a file that allows them to customize, print, and assemble a harness specifically for their own ailing sea turtles .FORT LAUDERDALE, Fla. (AP) — Republican senators pushed back on Sunday against criticism from Democrats that Tulsi Gabbard , Donald Trump's pick to lead U.S. intelligence services , is “compromised” by her comments supportive of Russia and secret meetings , as a congresswoman, with Syria’s president, a close ally of the Kremlin and Iran. Sen. Tammy Duckworth, D-Illinois, a veteran of combat missions in Iraq, said she had concerns about Tulsi Gabbard, Trump's choice to be director of national intelligence . “I think she’s compromised," Duckworth said on CNN’s “State of the Union," citing Gabbard's 2017 trip to Syria, where she held talks with Syrian President Bashar Assad. Gabbard was a Democratic House member from Hawaii at the time. “The U.S. intelligence community has identified her as having troubling relationships with America’s foes. And so my worry is that she couldn’t pass a background check,” Duckworth said. Gabbard, who said last month she is joining the Republican party, has served in the Army National Guard for more than two decades. She was deployed to Iraq and Kuwait and, according to the Hawaii National Guard, received a Combat Medical Badge in 2005 for “participation in combat operations under enemy hostile fire in support of Operation Iraqi Freedom III." Duckworth's comments drew immediate backlash from Republicans. “For her to say ridiculous and outright dangerous words like that is wrong," Sen. Markwayne Mullin, R-Oklahoma, said on CNN, challenging Duckworth to retract her words. “That’s the most dangerous thing she could say — is that a United States lieutenant colonel in the United States Army is compromised and is an asset of Russia.” In recent days, other Democrats have accused Gabbard without evidence of being a “Russian asset.” Sen. Elizabeth Warren, a Massachusetts Democrat, has claimed, without offering details, that Gabbard is in Russian President Vladimir “Putin’s pocket.” Mullin and others say the criticism from Democrats is rooted in the fact that Gabbard left their party and has become a Trump ally. Democrats say they worry that Gabbard's selection as national intelligence chief endangers ties with allies and gives Russia a win. Rep. Adam Schiff, a California Democrat just elected to the Senate, said he would not describe Gabbard as a Russian asset, but said she had “very questionable judgment.” “The problem is if our foreign allies don’t trust the head of our intelligence agencies, they’ll stop sharing information with us,” Schiff said on NBC's “Meet the Press.” Gabbard in 2022 endorsed one of Russia’s justifications for invading Ukraine : the existence of dozens of U.S.-funded biolabs working on some of the world’s nastiest pathogens. The labs are part of an international effort to control outbreaks and stop bioweapons, but Moscow claimed Ukraine was using them to create deadly bioweapons. Gabbard said she just voiced concerns about protecting the labs. Sen. Eric Schmitt, R-Missouri, said he thought it was “totally ridiculous” that Gabbard was being cast as a Russian asset for having different political views. “It’s insulting. It’s a slur, quite frankly. There’s no evidence that she’s a asset of another country,” he said on NBC. Sen. James Lankford, another Oklahoma Republican, acknowledged having “lots of questions” for Gabbard as the Senate considers her nomination to lead the intelligence services. Lankford said on NBC that he wants to ask Gabbard about her meeting with Assad and some of her past comments about Russia. “We want to know what the purpose was and what the direction for that was. As a member of Congress, we want to get a chance to talk about past comments that she’s made and get them into full context,” Lankford said. Adriana Gomez Licon, The Associated PressSouth Korea lifts president's martial law decree after lawmakers reject military rule

US to send $1.25 billion in weapons to Ukraine, pushing to get aid out before Biden leaves officeTevogen Bio to Host Panel Discussions “AI In Biopharma: Next Frontier of Medical Innovation” and “Pioneering the Economics of Health: Balancing Access and Outcomes” During J.P. Morgan Healthcare Conference

FLORHAM PARK, N.J. (AP) — New York Jets kicker Greg Zuerlein will be activated from injured reserve and will play against the Buffalo Bills on Sunday. Interim coach Jeff Ulbrich announced Friday that Zuerlein is returning after missing seven games with a knee injury to his left, non-kicking leg. He had been shaky before the injury, but the Jets have since been unsettled at the position, with Riley Patterson, Spencer Shrader and Anders Carlson all filling in. “He came back, looked healthy, kicked the ball well this week,” Ulbrich said of Zuerlein. “So, he’ll be our guy going forward here.” Zuerlein is officially listed as questionable to play, but was a full participant the final two practices. Wide receiver Davante Adams is also questionable , but likely to play after participating on a limited basis Friday because of a hip ailment that held him out Thursday. Adams, acquired from Las Vegas in October, has 56 receptions for 719 yards and six touchdowns on 94 targets in nine games for the Jets. He’s 72 yards away from his fifth straight 1,000-yard season and sixth of his career. “I think at this point, it would be a crying shame to not be able to get that,” he said. Adams and Aaron Rodgers are also tied with Miami’s Dan Marino and Mark Clayton for the third-most TD connections (82), including playoffs, by a quarterback-wide receiver duo. Rodgers needs one touchdown pass to become the fifth player in NFL history to get 500 in the regular season — and Adams said he would “love” to be on the receiving end of the milestone. “I got 200, I got 400," he said of Rodgers' TD passes while they were teammates in Green Bay. “So it would be dope to get 500 as well. I think his 200th was my first, so we got some special connections in the past, so it'd be great.” Adams said he was injured early in the game against the Rams, but was still able to catch seven passes for 68 yards and a touchdown. He said he was optimistic about his chances of playing at Buffalo. “We’re still working on it,” Adams said. “We’re treating it, trying to get it right so we can hopefully be there and ready by game time.” Cornerback Sauce Gardner is also questionable with a hamstring injury that sidelined him in the second half of New York's loss to the Los Angeles Rams . Zuerlein, who re-signed with the Jets last offseason on a two-year deal, made just nine of 15 field goal attempts and missed one extra point in the first eight games this year. He had been one of the NFL's most consistently reliable kickers the previous two seasons with the Jets. Patterson kicked in one game after the Jets placed Zuerlein on IR. Shrader also kicked in one game before he was signed off the practice squad by Kansas City. Carlson had been the kicker the past five games, but missed a field goal and an extra point against the Rams and the Jets signed Greg Joseph to the practice squad to provide competition. Ulbrich said earlier in the week Zuerlein would also be in the mix after a long layoff. "I think sometimes that can be powerful, an opportunity just to take a deep breath, get his body healthy again and get a restart," Ulbrich said. “So I’m excited for him to do his thing these last two games and really demonstrate to everybody who he is as a kicker.” Defensive tackle Quinnen Williams could return after missing last week with a hamstring injury. He was listed as questionable and was limited at practice all week. Also questionable but expected to play are right tackle Morgan Moses (knee), safety Tony Adams (ankle), cornerback Michael Carter II (back), defensive end Haason Reddick (neck) and defensive lineman Braiden McGregor (ankle). Defensive tackle Leki Fotu was ruled out with a knee injury. AP NFL: https://apnews.com/hub/NFLPatrick Mahomes and Chiefs win at the buzzer again, topping Panthers 30-27 on Shrader's field goal - The Associated PressThe 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Friday, gaining 469.83 points more points, a positive change of 0.48 percent, closing at 97,798.23 points as compared to 97,328.40 points on the last trading day. A total of 1,249,092,089 shares were traded during the day as compared to 969,907,357 shares the previous trading day, whereas the price of shares stood at Rs 45.475 billion against Rs. 35.167 billion on the last trading day. As many as 449 companies transacted their shares in the stock market, 112 of them recorded gains and 296 sustained losses, whereas the share price of 41 companies remained unchanged. The three top trading companies were WorldCall Telecom with 177,135,830 shares at Rs 1.39 per share, K-Electric Limited with 124,131,268 shares at Rs 5.31 per share and Hascol Petrol with 105,013,176 shares at Rs.11.23 per share. Nestle Pakistan Limited witnessed a maximum increase of Rs.83.69 per share price, closing at Rs 6,700.00, whereas the runner-up was PIA Holding Company Limited B with Rs 78.04 rise in its per share price to Rs 998.24. Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs 85.01 per share closing at Rs 19,015.00 followed by Abbott Laboratories Limited with Rs 61.72 decline to close at Rs 1,023.10.

NoneWarrington groups to benefit from almost £100k funding boostWhy Hut 8 Could Be the Hottest TSX Stock in 2025

A Glimpse Into The Expert Outlook On Workday Through 17 Analysts

PHOENIX — Phoenix Suns center Jusuf Nurkic and Dallas Mavericks forwards Naji Marshall and P.J Washington were ejected from Friday night's game after a brief fight between the players. Nurkic was called for an offensive foul while being guarded by Daniel Gafford with 9:02 left in the third quarter before the altercation quickly escalated. Nurkic confronted Marshall before taking an open-handed swing at his head and then Marshall responded with a punch. Washington quickly shoved Nurkic to the ground before the teams were separated. The referees reviewed the play before deciding that all three players would be ejected. The Mavericks were leading 60-44 at the time of the fight.Blackstone Mortgage Trust: Pocketed CRE Troubles Are Still Brewing

Across the recent three months, 14 analysts have shared their insights on Bank of America BAC , expressing a variety of opinions spanning from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 12 1 0 0 Last 30D 0 1 1 0 0 1M Ago 1 2 0 0 0 2M Ago 0 7 0 0 0 3M Ago 0 2 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $50.36, a high estimate of $57.00, and a low estimate of $44.00. This upward trend is evident, with the current average reflecting a 5.25% increase from the previous average price target of $47.85. Exploring Analyst Ratings: An In-Depth Overview The standing of Bank of America among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Scott Siefers Piper Sandler Raises Neutral $50.00 $44.00 David Konrad Keefe, Bruyette & Woods Raises Outperform $57.00 $50.00 Whit Mayo Wells Fargo Raises Overweight $56.00 $52.00 Keith Horowitz Citigroup Raises Buy $54.00 $46.00 Chris Kotowski Oppenheimer Raises Outperform $56.00 $50.00 Glenn Thum Phillip Securities Announces Accumulate $44.00 - Jason Goldberg Barclays Raises Overweight $53.00 $49.00 Glenn Schorr Evercore ISI Group Raises Outperform $45.00 $44.00 David Konrad Keefe, Bruyette & Woods Raises Outperform $50.00 $48.00 Chris Kotowski Oppenheimer Raises Outperform $50.00 $49.00 Betsy Graseck Morgan Stanley Raises Overweight $48.00 $47.00 Gerard Cassidy RBC Capital Maintains Outperform $46.00 $46.00 Chris Kotowski Oppenheimer Raises Outperform $49.00 $48.00 Betsy Graseck Morgan Stanley Lowers Overweight $47.00 $49.00 Key Insights: Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Bank of America. This information provides a snapshot of how analysts perceive the current state of the company. Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Bank of America compared to the broader market. Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Bank of America's stock. This comparison reveals trends in analysts' expectations over time. Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Bank of America's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table. Stay up to date on Bank of America analyst ratings. Get to Know Bank of America Better Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused. Bank of America: Delving into Financials Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition. Positive Revenue Trend: Examining Bank of America's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 0.71% as of 30 September, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers. Net Margin: Bank of America's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 25.17%, the company may face hurdles in effective cost management. Return on Equity (ROE): Bank of America's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 2.37%, the company may face hurdles in generating optimal returns for shareholders. Return on Assets (ROA): Bank of America's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.19%, the company may face hurdles in generating optimal returns from its assets. Debt Management: Bank of America's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.23 . What Are Analyst Ratings? Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks. Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights. Breaking: Wall Street's Next Big Mover Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. Click here for urgent details . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Trump ‘incredibly concerned’ about escalation of munitions in Russia-Ukraine conflict, aide saysColor Blind? Legacy Media Ignoring Multiple Racial Firsts in Upcoming Trump Administration