Jan 06 Alimony and Taxes in the Post-TCJA World
In divorces, alimony payments often are substantial and have been locked into tax deductions for the payer — but that was before the Tax Cuts & Jobs Act passed....
Jan 06 IRS announced 401(k) limit increases to $20,500
On November 4th, 2021, the Internal Revenue Service announced 401(k) contributions for individuals have been increased to $20,500. For tax years 2020 and 2021, the maximum was contribution was limited to $19,500. The IRS also issued technical guidance regarding cost of living adjustments affecting dollar...