By:
On:

The Continuing Appropriations Act, enacted at the end of 2022, included several provisions that impact retirement plans going forward. Specifically, the legislation enacts SECURE 2.0, an updated version of the Setting Every Community Up for Retirement Enhancement Act of 2019. The following provisions are financial planning considerations that affect individuals. Increases Catch-up Contributions Beginning in 2024, catch-up contributions to employer retirement plans made by employees who earn more than $145,000 a year (regularly adjusted for inflation) must be classified as after-tax Roth contributions. This is necessary for eligible plans to retain their tax-favored status. Starting in 2025, catch-up contributions for participants ages 60 to 63Read More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

The thrill of summer travel is always invigorating, but the prices to get there can be a real bummer. But not to fear. We’re here with some smart tips that will help you navigate in this price jungle and have a wonderful, memory-filled getaway. Plan Way Ahead Even though you can sometimes find great deals at the last minute, if you can wrap your head around thinking in advance about your vacay (especially if you’re buying long-haul flights), it’ll pay off. For instance, if you’re traveling to Europe or Asia, you’ll find that buying your tickets early not only provides significant savings, but also givesRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

Over the years, millions of individuals have been affected by data breaches, where their sensitive data is accessed by unauthorized cybercriminals or publicly exposed. A data breach can result in huge financial loss if stolen data is used to compromise consumer identity, which also can affect a credit score. Unfortunately, there is a great number of people who don’t know what to do if affected by a breach. At the same time, there are those in the know who do nothing. What is a Data Breach? A data breach is a cyber security incident that exposes sensitive data such as names, contact details, bank details,Read More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

Fiscal Responsibility Act of 2023 (HR 3746) – This Act represents a compromise reached by House Republicans and President Biden. Republicans negotiated concessions in exchange for voting to raise the debt ceiling to maintain solvency of the federal government. These concessions included universal cuts to federal spending, the suspension of student loan repayments that began during the pandemic, additional work requirements for some Supplemental Nutrition Assistance Program (SNAP) and Temporary Assistance for Needy Families (TANF) recipients, and suspending the current $31.4 trillion debt ceiling until 2025.The bill was introduced by Rep. Patrick McHenry (R-NC) on May 29. The legislation was passed in the House onRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

The end of the federal emergency declaration for Covid-19 came on May 11. As a result, there are various public health policy changes. For example, vaccines and treatments will remain available, but at-home tests may no longer be covered by insurance and national CDC data reporting is subject to change. Administratively, there are also changes to regulatory measures temporarily put in place by the emergency status that will have tax consequences. As employers struggled during the pandemic, some even to meet payroll, issues around expense reimbursements, stipends and how these are considered fringe benefits or compensation came into light. History of Section 139 Section 139Read More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

According to a 2022 Allied Market Research report, the size of the global forensic accounting market is forecast to increase in value to $11.68 billion in 2031, up from its 2021 estimated value of $5.13 billion. Allied Market Research puts this compound annual growth rate at nearly 9 percent (8.8 percent). This same report found that the Covid-19 pandemic saw an uptick in the need for forensic accounting skilled professionals and approaches. Forensic accounting is a specialization within the general accounting profession. Professionals in this specialized subset focus on allegations of financial fraud brought by individuals and businesses in the civil courts and government agenciesRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

Some economists and market analysts have been predicting a U.S. recession ever since last fall. They’ve been wrong before – but they’ve also been right. Rather than try to predict how the stock market will react during the next recession, investors are better off planning for a range of potential outcomes. This will help reduce the risk of losses regardless of whether or not the United States experiences a recession in 2023. Bear in mind that stock and bond markets are forward-looking and typically priced to take into account economic conditions such as higher interest rates, inflation, and commodity prices. In response to whatever factorsRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

Summer is here, and so are all the activities. But as we know, these activities cost money. Here are a few ways you can still have fun and, while doing so, save some cash. Look at Your Calendar Summer months are filled with holidays, birthdays, cookouts, weddings – the list goes on. Take a look and make an estimate of how much you want to spend on each event. When you can plan ahead and figure out your budget, you won’t be faced with surprise expenditures at the last minute. Nobody likes that. Go on a Spending Cleanse We’re not talking for months on endRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

Technology has greatly contributed to improving and streamlining everyday life. However, as technology advances, there is an increased reliance on digital tools powered by artificial intelligence and machine learning. Unfortunately, these technologies are also challenging the fundamental notion of human agency. As a result, there are rising concerns about humans losing the ability to make independent decisions. What is Human Agency? Human agency refers to the capacity of individuals to act intentionally and make choices that shape their lives. Although the human agency is influenced by various factors, including social, cultural, and environmental contexts, individuals should maintain the ability to exert some degree of controlRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share

By:
On:

Limit, Save, Grow Act of 2023 (HR 2811) – This bill was introduced in the House by Rep. Jodey Arrington (R-TX) on April 26. It would authorize and increase the federal debt limit as well as specific cuts in spending, such as repealed energy tax credits, expanded work requirements for the Supplemental Nutrition Assistance Program (SNAP) and other programs, and nullifies regulations for the cancellation of federal student loan debt. This bill passed in the House on April 26 but was not expected to pass in the Senate. Pharmacy Benefit Manager Reform Act (S 1339) – Co-sponsored by three Republicans, this bipartisan bill would provideRead More →

Please follow and like us:
Facebook
Facebook
fb-share-icon
Twitter
Tweet
LinkedIn
Share