Skip to main content

Featured

Navigating Personal Finance in 2025: Key Changes to Capital Gains and Tax Brackets

As we step into 2025, several significant changes are set to impact personal finance, particularly in the areas of capital gains and tax brackets. These adjustments are designed to adapt to economic conditions and provide better financial planning opportunities for individuals. Capital Gains Tax Adjustments One of the most notable changes is the adjustment to capital gains tax. Starting in 2025, a higher tax rate will be applied to capital gains exceeding $250,000. This means that individuals selling assets with substantial gains may need to reconsider their timing and strategy to minimize tax liabilities. For example, spreading the sale of assets over multiple years could be a more tax-efficient approach. Changes to Tax Brackets Inflation adjustments are also on the horizon for tax brackets. To prevent inflation from pushing taxpayers into higher brackets, the income thresholds for each tax bracket will increase by 2.7%. For instance, the federal tax rate for earnings up to $57,375 wi...

Pan-fried rib eye steak with Cabernet essence

                                                             

Ingredients:

  • 2 500 g rib-eye steaks about 1 ½ inches thick
  • Kosher salt and freshly ground pepper
  • 2 tsp butter
  • 1 cup chopped shallots
  • 2 cups cabernet sauvignon or other red wine
  • 1 bay leaf
  • 1 stalk thyme
  • 1 cup beef or chicken stock, homemade or store-bought
  • 1 tbsp olive oil
  • 2 tbsp unsalted butter
  • Maldon salt
  • 3 tbsp finely chopped shallots


Instructions:

  1. Liberally salt steak with Kosher salt two hours before using. Pepper just before cooking.
  2. In stainless steel or cast iron skillet on medium, heat butter and add shallots. Sauté until slightly browned.
  3. Add wine, bay leaf and thyme and reduce until 1/4 cup liquid remains.
  4. Add stock and reduce until sauce is slightly thickened, about three minutes. Reserve until needed.
  5. Heat oil and butter in heavy cast iron or cast iron enamel skillet on medium-high heat.
  6. Add steaks and brown on one side, about 5 minutes, basting occasionally. A grill pan is very good for this.
  7. Turn. Cook the second side for 3 to 5 minutes or until medium-rare – 130 F to 135 F on a meat thermometer.
  8. Remove from pan and let rest. Discard fat.
  9. Add sauce to pan and scrap up any fond and juices. Add additional stock if the sauce is too thick.
  10. Slice steaks into 1/4-inch slices. Spoon over sauce. Sprinkle with Maldon salt and finely chopped shallots just before serving.

Comments

Popular Posts