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On October 21st, the Internal Revenue Service 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 today also issued technical guidance regarding all of the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2023.
IRS Increases 401(k) Limit By Record Amounts Read More »
Working from home continues to be common 2+ years into the COVID-pandemic and many are suggesting it will increase over the next few years, especially since it can be so appealing to employees.
Warren Buffett On Inflation, And Planning For Unexpected Costs In Retirement Read More »
Working from home continues to be common 2+ years into the COVID-pandemic and many are suggesting it will increase over the next few years, especially since it can be so appealing to employees.
State Taxes On Remote Work & Inherited IRAs Read More »
The first six months of 2022 have not been smooth sailing. The Fed has taken a few shots at record high inflation, and after recent readings, it seems to be heading in the right direction — downward. However, the question remains, can the Fed can stick the landing of bringing their inflation targets back in line without sending the U.S. economy into recession?
A Rollercoaster Start To The Year Read More »
Stay on top of important changes to contribution limits for retirement accounts in the New Year.
IRS Makes Contribution Limit Changes for 2022 Read More »
A sound financial plan will take inflation into consideration and prepare for a decrease in the purchasing power of your dollar over time. When you plan for retirement, also consider integrating your adult children into the estate planning structure you set up.
The Impact of Inflation on Your Retirement and Integrating Family Into Your Plan Read More »
Benchmark was a Gold Sponsor at the Lincoln Heights Outreach, Inc Adult Day Service Grand Opening Celebration. LHOI Adult Day Services provides programs for seniors 60 years of age and older in a community setting for those in need of assistance or supervision in a safe, nurturing environment away from home.
Benchmark Participates In 2021 LHOI Grand Opening Celebration Read More »
Be aware and stay prepared as rates will inevitably go up, whether that’s in 2022 or 2023.
Summer of 2021: The Fed, Interest Rates and Me Read More »
With a federal tax code that is over 2,500 pages, no wonder tax strategies can be overwhelming.
Common Errors in Tax Filings and the 3rd Round of Economic Impact Payments Read More »
Although a year away, your 2021 tax planning should have already started.
The New IRS Tax Rates and Deductions for 2021 Read More »
We offer a personalized approach to wealth management.