The IRS has released its annual inflation adjusted tax numbers for 2023. Below we have highlighted some of the most relevant updates for tax brackets, retirement contributions, and estate and gifting limits, as compared to 2022 figures. Individual Income Taxes Income Tax Brackets – Single Tax Filer 2023 2022 10% Up to $11,000 Up to [...]
The IRS has released its annual inflation adjusted tax numbers for 2022. Below we have highlighted some of the most relevant updates for tax brackets, retirement contributions, and estate and gifting limits, as compared to 2021 figures. Individual Income Taxes Income Tax Brackets – Single Tax Filer 2022 2021 10% Up to $10,275 Up to $9,950 [...]
The SECURE Act and Your Retirement As part of the approval of a recent spending bill, the House and Senate have also approved the SECURE (Setting Every Community Up for Retirement Enhancement) Act. In general terms, the goal of the legislation is to expand and preserve retirement savings programs. All changes became effective on January [...]
