2023 Tax Law Chanfes

Tax Law Changes in 2023

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.

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Tax Considerations When a Loved One Passes Away (Part 1)

A financially comfortable loved one has passed away. In this year of seemingly endless bad news, sadly, that’s not an uncommon situation.

The now-deceased loved one may have been single or married, and may or may not have been a relative. In any case, you’ve stepped up to the plate and taken on the challenging job of acting as executor for the deceased person’s estate. Good for you.

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