Are you ready for the new tax law changes coming in 2023? Because it’s a whole new ball game!
Here are the major changes that you should know about:
August 2022: Inflation Reduction Act
- Clean energy tax credits for homeowners
- Rebates for electric vehicle purchases
- Expanded IRS Enforcement
- 15% corporate minimum tax
- Tax on stock buybacks
December 2022: Consolidated Appropriations Act, 2023 (Includes SECURE 2.0)
- Delays in the starting age for Required Minimum Distributions
- Automatic enrollment in workplace retirement plans
- Larger “catch-up” contributions
- Additional penalty-free distributions
- 529 Plan “Roll-Ups”
Don’t get caught off guard! We can help you navigate these changes and ensure that you are prepared for the new tax laws.
Let’s schedule a meeting here and figure out the best way for you to take advantages of these changes.