Have you heard the good news? The IRS announced late last year that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. The catch-up contribution limit for aged 50 and over remains at $7,500. This means if you are 50 yrs or older you...
Think you’ll have more money, and/or make it last longer if you work during your retirement years? Maybe, if you pay attention to income limits and delay taking your benefits until your full retirement age. When to begin your retirement is a very personal decision and depends on many factors: health, current income, and financial...
Your money may be under the IRS’ microscope in 2024. You may have heard cries of “Tax the Rich” recently in articles, speeches, primary posturing, and most probably at the State of the Union. New IRS audits of business aircraft use are just the beginning of a new level of scrutiny to come. It seems...
Are you a retiree, business professional, or a snowbird thinking of moving permanently to Florida? Keep in mind that moving to a new state is super stressful when establishing residency in addition to preparing documentation for tax purposes. Between finding your new home, then packing up your belongings, finding schools for the kids, new doctors etc.,...
Let your 2024 New Year’s Resolution be to avoid the IRS Dirty Dozen! Every year the IRS releases a list of the most recent tax scams and identity fraud schemes and they call them the Dirty Dozen. As we are now entering tax season, our CPAs and Accountants want to warn you to steer clear...
