What’s New in 2023
As I’m sure you know, Congress seems to make changes to tax laws just about every year. This year was no exception, so here are a few things related to […]
Reducing Taxes with Qualified Charitable Distributions
In most cases, distributions from a traditional Individual Retirement Account (IRA) are taxable in the year you receive them, but there are some exceptions. A qualified charitable distribution (QCD) is […]
Employers: Beware ERC Scams
If you are an employer, be careful about third parties that may advise you to claim the employee retention credit (ERC) when you don’t qualify. Some third parties are taking […]
401(k) and IRA Limits Increase in 2023
The IRS has announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. They have also announced increased […]
IRS Announces Tax Inflation Adjustments for 2023
The Internal Revenue Service has announced the tax year 2023 annual inflation adjustments for manyu tax provisions, including the tax rate schedules and other tax changes. Below are some of […]
The Child Tax Credit is for More Than Just Parents
Even people who are familiar with the Child Tax Credit (CTC), might not realize that you don’t necessarily have to be the parent of a child in order to qualify. […]