[ad_1] Cn0ra | Istock | Getty Images The end of the year is an important time for making financial decisions that can have an impact in the year ahead — and for years to come. From your work to your savings and investments to spending and giving back, here are …
Read More »Investors can contribute up to $22,500 in a 401(k) and $6,500 in IRAs in 2023
[ad_1] If you’re eager to save more for retirement in 2023, there’s good news from the IRS, which just announced higher limits for your annual 401(k) plan and individual retirement account contributions. The employee contribution limit for 401(k) plans is increasing to $22,500 in 2023, up from $20,500, and catch-up …
Read More »IRS delays guidelines for some inherited retirement accounts until 2023
[ad_1] Zinkevych | iStock | Getty Images If you inherited a retirement account in 2020 or 2021, the IRS is waiving penalties for some heirs who needed to start taking required minimum distributions right away, according to a notice issued Friday. The new rule won’t apply until 2023. Typically, there’s …
Read More »Watch out for these 3 common errors when filing a tax extension
[ad_1] If you’re racing to meet the Oct. 17 tax extension deadline, make sure you don’t skip key forms as you’re rushing to the finish line, experts say. It’s critical to file a complete and accurate return to avoid processing delays, according to the IRS, including details from all the …
Read More »