Small Businesses: There Still May Be Time to Cut Your 2021 Taxes

Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 taxes. You still have time to execute a few strategies. Purchase Assets Thinking about buying new or used equipment, machinery, or…

IRS Announces Adjustments to Key Retirement Plan Limits

In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights of the retirement plan limits: Elective deferrals. The annual limit on elective deferrals (employee contributions)…

Don’t Forget to Factor 2022 Cost-Of-Living Adjustments Into Your Year-End Tax Planning

The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably over 2021 amounts. As you implement 2021…