Spivey & Morton, CPA, PA

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.

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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

2025 Tax Brackets

10% Up to $11,925 Up to $23,850 Up to $17,000

12% Over $11,925 Over $23,850 Over $17,000

22% Over $48,475 Over $96,950 Over $64,850

24% Over $103,350 Over $206,700 Over $103,350

32% Over $197,300 Over $394,600 Over $197,300

35% Over $250,525 Over $501,050 Over $250,500

37% Over $626,350 Over $751,600 Over $626,350

Married Filing

Jointly

Head of

Household

IRA Contribution Limits for 2025

The maximum amount you can contribute to a traditional IRA for 2025 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.

Simple IRA Contribution Limits for 2025

The annual contribution limit for SIMPLE IRAs is $16,500. Workers age 50 or older can make additional catch-up contributions of $3,500, for a total of $20,000. Under the Secure 2.0 Act, participants who attain age 60, 61, 62, or 63 during the year, the catch-up contribution limit is increased to $5,250 for 2025, for a total of $21,750.

401K, 403B and most 457 plans - Contribution Limits for 2025

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 $23,500. There is an additional catch-up contribution of $7,500 for taxpayers 50 or older, or $11,250 for taxpayers between the ages of 60-63.

2025 Standard Deductions

$15,750 for Single/Married Filing Separate
$23,625 for Head of Household
$31,500 for Married Filing Jointly/Qualifying Widow(er)

2025 Tax Year Deadlines

March 16th, 2026 - Partnerships and S-Corporations

April 15th, 2026 - Individual and C-Corporations

September 15th, 2026 - Extended Partnerships and S-Corporations

October 15th, 2026 - Extended Individual and C-Corporations

Single