Savings

We are sharing some important information that may impact you as a result of the SECURE 2.0 Act of 2022. As you may know, SECURE 2.0 was signed into law on December 29, 2022 and includes reform that seeks to expand retirement coverage and savings. The new law includes both required and optional changes for 401(k) plans, as well as other types of retirement plans.    Age 50 Catch-Up Contributions – A catch-up contribution allows individuals age 50 or older to save more in their

If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider a cost segregation study. It might allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. And under current law, the potential benefits of a cost segregation study are now even greater than they were a few years ago due to enhancements to certain depreciation-related tax breaks. Fundamentals