2023/24 changes
Home Tax rebates Retirement/Soc. Security New Business Form Loan Calculator Calculators 2023/24 changes Links Business Questions Trusts & Valuations Defer tax


See Below for  2023 and 2024 rates and information -

For 2024 changes in brackets and amounts please visit:


The standard deduction for filing jointly is up to $29,200; for filing single, $14,600; for Head of Household, $21,900. Additional amount of $1,550 for married seniors and $1,950 for unmarried seniors.

Please contact us for additional information or to request an appointment.


Accounting Office, 1430 Church Lane, Easton, PA 18040

Social Security

Social Security Wage ceiling - $168,600 in 2024.  Early retirement income phase out begins at $22,320 in 2024. No ceiling for Medicare 1.45% tax; additional .9% surtax paid on wages that exceed $250,000 (MFJ) $125,000 (MFS) $200,000 (S)(HoH.

Self Employed - Health Insurance deduction

Remains 100% in 2024.

Minimum wage in Pennsylvania - employers with more than 10 full time employees.

Federal min.  $7.25 

Corporate Income Tax Rates - 2024  rate remains 21%

Personal Services Corporations - 21%

Annual Gift tax exclusion is $18,000 for 2024.

Other notable 2024changes: PA corporate net income tax will be reduced to 8.49%.  Federal and PA impose restrictions on the use of a net operating loss carry forward.


The PA Inheritance tax rate is 4.5% for transfers from parents to children.  Gifts or transfers made within one year of death are taxed in addition to transfers effected after death.  A life estate which allows someone the right to remain in a home after transferring ownership has a value subject to the tax. Obtain guidance on the matter transferring your home to an adult child.  Valuable tax benefits can be lost.