Tax Filing Status

One of the first things to figure out with your taxes is which filing status to use. What counts is your status as of December 31st, not any other time of year. There are five filing statuses. Which one is yours? Single - If you're single, divorced, or legally separated as of December 31st, you're probably [...]

401(k) Limit Increases to $22,500 for 2023, IRA Limit Rises to $6,500

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 2023 has increased to $22,500, up from $20,500 for 2022. The IRS has also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related [...]

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