Taxes
A SIMPLE Way to Retirement Savings
The required minimum distribution (RMD) rules apply to SIMPLEs. Beginning in 2023, the new law increases the age threshold to 73, up from 72 under the initial SECURE Act.
Ken Berry
CPA Practice Advisor Tax Correspondent
Ken Berry, Esq., is a nationally-known writer and editor specializing in tax and financial planning matters. During a career of more than 35 years, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company in the financial services industry. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals, emphasizing a sense of wit and clarity.
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Payroll
401(k)s Are Now Open to More Part-Time Workers
The 401(k) plan is one of the most popular qualified retirement plans around. However, in the past eligibility was generally restricted to an employer’s full-time employees.
Taxes
New Tax Law Boosts ABLE Accounts
If you meet the tax law requirements and are receiving Supplementary Security Income (SSI) and/or Medicaid benefits, you’re automatically eligible to participate.
Taxes
The Tax Blotter - March 2023
Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. But some are permanent provisions of the tax code.