PBGC Raises Guarantee for Single-Employer Pension Plans that Fail

PBGC Raises Guarantee for Single-Employer Pension Plans that Fail

Defined benefit retirement plans, better known as pensions, have been at risk for decades now. The PBGC, dedicated to protecting them, has changes coming.
You and Your Employees Can Save More for Retirement in 2023

You and Your Employees Can Save More for Retirement in 2023

How much can you and your employees contribute to retirement next year? The amounts increased more than they have in recent years due to inflation.
Employers: In 2023, the Social Security Wage Base Is Going Up

Employers: In 2023, the Social Security Wage Base Is Going Up

The Social Security Administration announced an increase in the Social Security wage base. It will increase to $160,200 in 2023 (up from $147,000 for 2022).
Research Credit Potentially Doubled by the Inflation Reduction Act

Research Credit Potentially Doubled by the Inflation Reduction Act

The Inflation Reduction Act could benefit small business startups. They can potentially double the amount of their research and development tax credit.
Are You Missing Out on the Increased Child Tax Credit?

Are You Missing Out on the Increased Child Tax Credit?

Included in ARPA was a one-year enhancement of the child tax credit for 2021 only. The law boosted the credit from $2,000 to $3,000 for children aged 6 -17.
What Local Transportation Costs Can Your Business Deduct?

What Local Transportation Costs Can Your Business Deduct?

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses.