Content for December 2nd Your Safe Money Show

 For our first Your Safe Money Show for December (December 2nd) Todd has a 10-year checklist for retirement planning. He explains what factors affect your home insurance costs. And what is a tax credit? Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Go to yoursafemoneyshow.com to hear recent shows.

Open enrollment ending soon

 Time is running out for Medicare Open enrollment, it ends Thursday December 7th. MNsure ends December 15th if you want insurance to start January 1st 2024. Call for an appointment at 320-679-5183.

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Our office will be closed Thursday and friday

 Everyone at Sjoberg & Holmstrom Financial Services and Your Safe Money Show wish you a Happy Thanksgiving! Our office will be closed Thursday and Friday. Messages can be left at 320-679-5183.

IRS tax changes

 The IRS is making changes to over 60 tax provisions for 2024, including a 5% increase to the standard deduction. Not everybody pays the same amount of taxes. The IRS determines how much you'll pay each year using a graduated-rate income tax system. This year, the lowest rate is 10%, for single-filing individuals who make up to $11,600 in 2024. This is up from a cutoff of $11,000 for 2023. The highest rate is 37%, for single-filing individuals who make over $609,350 (up from $578,125 last year). Graduated tax brackets are income-based and determine how much each portion of your earnings are taxed. The first $11,600 of a filer's income is taxed at 10%. The next $35,500 is taxed at 12%, and so on. The standard deduction is a predetermined amount of income that isn't taxed by the federal government. Alternatively, you can itemize your deductions to potentially save more than the standard deduction; however, after a tax overhaul in 2017, the vast majority of taxpayers choose to take the standard deduction. For single filers, the standard deduction for 2024 will be $14,600, up from $13,850 this year. For married couples filing jointly, the standard deduction will be $29,200. For more information on inflation adjustments, go to the IRS website IRS.gov.

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Your Safe Money Show topics for November 18th

 For our Saturday November 18th Your Safe money Show. Todd will answer the question “what happens to Social Security benefits when you die”? He’ll also have the 5 worst bad habits to carry into retirement. And there’s a $600 billion dollar dilemma: how to help family caregivers, he'll share details on that. Tune in at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.