457 Plan

How inflation will affect your 2024 and 2025 tax bills

401K, 403 (b), Business Deductions, Deductions, Federal Gift Tax, Federal Tax Deductions, Federal Taxes, FSA, Inflation, IRA, Stand Deduction Will Increase in Slightly In 2025, Taxes 2025 / Douglas Freeman

Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. The IRS recently announced next year’s inflation-adjusted amounts for several provisions. Here are the highlights. Standard deduction. What does an increased standard deduction mean for you? A […]

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Inflation means you and your employees can save more for retirement in 2023

401K, Inflation, IRA, Retirement, Savings Incentives Match Plans for Employees (SIMPLEs), Simplified Employee Pension (SEP) / Douglas Freeman

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. The amounts increased more than they have in recent years due

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