Year-End Small Business Tax Benefits of Sponsoring a 401(k) Plan
As year-end approaches, many business owners begin scrambling to find ways to maximize potential tax benefits for the year. Perhaps your financial advisor suggested saving any expensive company purchases for the end of the year in a last-ditch effort to lower your...
SECURE 2.0 Act Increases RMD Age
SECURE 2.0 increases the RMD age from age 72 to age 73 in 2023, and then to age 75 in 2033* (or the year of retirement, if later, for certain plan participants who are not 5 percent owners). Individuals born in 1950 or earlier are unaffected by this change and must...
President Signs Appropriations Bill, Containing the SECURE 2.0 Act of 2022, Into Law
Yesterday, President Biden signed the Consolidated Appropriations Act of 2023 into law, which included the SECURE 2.0 Act of 2022. As previously announced, both the Senate and the House approved the Consolidated Appropriations Act of 2023, last week.
