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Spivey & Morton, CPA, PA

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We Offer

Individual & Business Taxation

We provide business and personal tax preparation to help you proactively manage your tax issues. Tax laws are complex and change on a regular basis. By assisting with tax preparation, we can help you present the most accurate financial information to government agencies.

WE OFFER

Tax Planning & Financial Consulting

 We guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.

Bookkeeping/Payroll
Preparation

Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. We can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

Quality, Trust, and
Expertise

We're dedicated to helping you with all of your

accounting needs.

Tax Tips

2024 Tax Brackets

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10%   Up to $11,600     Up to $23,200      Up to $16,550

12%   Over $11,600      Over $23,200       Over $16,550

22%   Over $47,150      Over $94,300       Over $63,100

24%   Over $100,525    Over $201,050     Over $100,500

32%   Over $191,950    Over $383,900     Over $191,950

35%   Over $243,725    Over $487,450     Over $243,700

37%   Over $609,350    Over $731,200     Over $609,350

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Married Filing

Jointly

Head of

Household

IRA Contribution Limits for 2024

The maximum amount you can contribute to a traditional IRA for 2024 is $7,000 if you're younger than age 50. Workers age 50 and older can add an extra $1,000 per year as a "catch-up" contribution, bringing the maximum IRA contribution to $8,000. 

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Simple IRA Contribution Limits for 2024

The annual contribution limit for SIMPLE IRAs is $16,000, up from $15,500 in 2023. Workers age 50 or older can make additional catch-up contributions of $3,500, for a total of $19,500. 

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401K, 403B and most 457 plans - Contribution Limits for 2024

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased to $23,000. 

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2024 Standard Deductions

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  • $14,600 for Single/Married Filing Separate

  • $21,900 for Head of Household

  • $29,200 for Married Filing Jointly/Qualifying Widow(er)

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2024 Tax Year Deadlines​

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March 15th, 2025 - Partnerships and S-Corporations

April 15th, 2025 - Individual and C-Corporations

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September 15th, 2025 - Extended Partnerships and S-Corporations

October 15th, 2025 - Extended Individual and C-Corporations

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Single

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