EATING WELL ON A BUDGET Your Guide to Frugal Grocery Shopping
Are you tired of spending more money on fewer ingredients? You are not alone. While prices for most consumer goods have increased, food costs have increased even more. Grocery prices have increased by 25% since 2020, outpacing inflation by 6%. By buying food that costs less, lasts longer, and feeds more people, you can keep your grocery bills manageable while still eating well. Look for these foods at the grocery store to keep your wallet and pantry full! GROUND MEAT
in larger quantities and costs less than many other forms of meat. Despite not being a “prime cut” option, ground meat is still full of protein that satisfies your hunger. PEANUT BUTTER While everyone loves peanut butter and jelly sandwiches, this inexpensive ingredient can also be used in a number of other recipes. It can be used as a delicious protein additive to smoothies or spread on celery to make ants on a log. TORTILLAS Tortillas come in two main varieties: corn and flour. The former is more traditional and less expensive, but if you prefer flour, it’s still an economical option. While you can buy pre-cooked tortillas, the flavor is much better when you cook them yourself. If you buy in bulk, you can save the tortillas you aren’t ready to use by freezing them, allowing you to save more and only use what you need. Tortillas are also used by astronauts as a substitute for bread since they don’t leave crumbs when you eat them. If they are good enough for astronauts, they’re good enough for us!
Whether it’s chicken, beef, turkey, or pork, ground meat is cheap and usable in many recipes. In addition to a range of options to meet dietary restrictions and preferences, ground meat is sold
Strategize Your Savings
TAX PLANNING PUT FIRST During tax season, your focus tends to be on the previous year’s taxes. However, it is time to dive into potential refunds or minimize owed amounts in 2024.
enabling taxpayers to earn higher incomes before bumping up into higher tax rates. For instance, the 10% bracket is limited to $11,600 of annual income for single filers, up from $11,000 in 2023, while the top bracket of 37% begins at $609,350 for single filers, a rise from $578,126. Additionally, the standard deduction increased by 5.4%, providing more significant initial tax relief. COME UP WITH A TAX PLAN THAT SAVES YOU MONEY. With the updated 2024 tax brackets, you can begin devising tax-planning strategies to alleviate your tax burden and potentially increase your savings. Methods are available to decrease your tax liability or position you in a lower tax bracket. Tax planning is not a one-size-fits-all solution; everyone's financial circumstances differ. Understanding and utilizing the adjusted federal income tax brackets for
Opportunities for tax-savvy maneuvers from 2023 are typically no longer available. This is why it's crucial to explore the adjusted federal income tax brackets for 2024 and use this knowledge to inform tax-planning strategies. Here are a few helpful tips to better understand how this system works. PAY ATTENTION TO FEDERAL INCOME TAX BRACKETS. The IRS has seven income tax brackets in 2024: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Federal income tax brackets serve as a guide for determining the percentage of your income subject to taxation and the various rates it will be taxed. In 2024, the IRS adjusted income thresholds within tax brackets to counter inflation and prevent “bracket creep,”
2024 will significantly impact your tax planning strategies and maximize savings. Stay informed about tax regulations so you can use more of your hard-earned money to achieve your financial goals. By seeking assistance from a tax professional who can customize a plan that fits your specific needs, call Roberts CPA Group today.
2 ∙ www.Roberts.cpa
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