While most people tune into taxes in March and April due to the annual deadline, tax planning is most effective when it is a year-round endeavor. Here are 20 of our CPA’s best tips to use throughout the year, to make the most of your tax return come tax time. Gift Tax Exclusion Currently,
Retirement Plan Limits Rise for 2024 and IRA Contributions Continue Until Tax Deadline
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
Review Funding For Your Retirement Accounts In 2022
January is a great time to review contributions to your retirement plans. Starting in 2022, the maximum contribution that individual U.S. taxpayers can contribute to their 401(k) plans will increase to $20,500, up from $19,500 for 2021 and 2020. With the cost of living rising and increases in inflation, higher phase-out limits make many more
