Watch this IRS webinar to learn more about what a Trump Account is and who is eligible for it as a provision under the Working Families Tax Cuts. A Trump account is a new type of individual retirement account that gives children an early financial foundation and encourages long-term savings and financial awareness. This video: describes [...]
This article was published by the IRS. It’s halfway through the year, which is a great time for taxpayers to do a quick check to make sure they’re on a smooth track to next filing season. Here are some tips: Keep good tax records. Taxpayers should keep all important tax records in one place. They can [...]
This article was published by the IRS. Planning for retirement may seem daunting, but it’s important to start early. Individual retirement accounts provide tax incentives for people to make investments towards their financial future. IRAs let earnings grow tax deferred. Individuals pay taxes on investment gains only when they make withdrawals. Depositors may be able to [...]
This article was published by the IRS. The Internal Revenue Service has announced that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025. The IRS also issued technical guidance regarding all cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax [...]
Retirement Plans If you can afford to do so, investing the maximum amount allowable in a qualified retirement plan will yield a large tax benefit. If your employer has a 401(k) plan and you are under age 50, you can defer up to $23,500 of income into that plan for 2025. Catch-up contributions of $7,500 are [...]
