2025 COLAs for Retirement Plans
The IRS released the amount individuals can contribute to their 401(k) plans in 2025. The contribution limit has increased to $23,500, up from $23,000 for 2024. The IRS today also issued technical guidance regarding all cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2025 in Notice 2024-80. Highlights […]
Tax News Updates | November 2024
“Today, it takes more brains and effort to make out the income-tax form than it does to make the income.” ~ Alfred E. Neuman Instructors James Hockenberry, EA – Jim is the President of Back to Basics Income Tax Seminars and has over 31 years of experience in income tax and financial planning. He is […]