2023 Consolidated Appropriations Act addresses retirement planning and conservation easements

2023 Consolidated Appropriations Act: What You Need to Know On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial…

You and your employees can save more for retirement in 2023 thanks to inflation

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions and other…

Proposed Regulations for Inherited IRAs Bring Unwelcome Surprises

Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes to retirement and estate planning strategies, but…

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)…

Thinking about Participating in Your Employer’s 401(K) Plan? Here’s How It Works

Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking about participating in a plan at work,…

Negotiations Continue in Congress Over Proposed Tax Changes

Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back Better Act (BBBA) and the Bipartisan Infrastructure Bill (BIB), also known as…

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