Recent News

16 December 2022

Maximum 401(k) Contribution Increased by Record Amount for 2023 as Inflation Surges

The Internal Revenue Service is boosting the amount that Americans can contribute to their 401(k) plans in 2023 amid a surge in inflation. Also included are Section 457 plans, which are available t...

28 September 2022

How High Inflation May Affect You Tax-Wise for 2023

Each year, the IRS calculates inflation adjustments for various tax provisions for the following tax year. Typically, the inflation adjustments for the upcoming tax year are announced in earl...

24 August 2022

President Biden Signs Inflation Reduction Act

On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (the “Act”) into law. The bill passed Congress with a vote of 220-207 in the House, and 51-50 in...

01 August 2022

ROTH IRA – IS IT A GOOD TIME TO CONVERT?

As stock market values have fallen recently, many taxpayers are considering converting assets in their traditional IRA to a Roth IRA. Current laws allow taxpayers to contribute a maximum of $...

11 February 2022

Did You Receive Advance Child Tax Credit Payments From the IRS in 2021?

The American Rescue Plan Act of 2021 (“ARPA”) included modifications to a number of existing tax provisions, including a significant overhaul of the child tax credit for the 2021 tax ye...