by briesterer@thinkvisionary.com | Feb 2, 2023 | Individuals, Newsletter, Tax
When completing a tax return, taxpayers have two options: take the standard deduction or itemize their deductions. Most taxpayers use the option that gives them the lowest overall tax. Due to all the tax law changes in recent years, including increases to the standard...
by briesterer@thinkvisionary.com | Feb 1, 2023 | Individuals, Newsletter, Tax
Everyone wants to save money on their taxes, and retirees and older adults are no exception. If you’re 50 or older, here are six tax tips that could help you do just that. 1. Standard Deduction for Seniors If you and your spouse are 65 or older and do not...
by briesterer@thinkvisionary.com | Jan 6, 2023 | Business, Individuals, Newsletter, Tax
The $1.66 trillion Consolidated Appropriations Act, 2023, was signed into law on December 29, 2022, by President Biden. Included in the 4,155-page bill is the SECURE Act 2.0 of 2022, which contains a number of tax provisions relating to retirement. Let’s take a...
by briesterer@thinkvisionary.com | Jan 4, 2023 | Individuals, Newsletter, Tax
Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead....
by briesterer@thinkvisionary.com | Jan 3, 2023 | Individuals, Newsletter, Tax
Filing your 2022 tax return promises to be just as complicated as always; however, there are steps that taxpayers can take right now to ensure their tax filing experience goes smoothly. Let’s look at what’s new for 2022 and some key items taxpayers should...
by briesterer@thinkvisionary.com | Dec 5, 2022 | Individuals, Newsletter
Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2023 are as follows: 401(k), 403(b), 457 plans, and Thrift Savings Plan. Contribution limits for employees who participate in 401(k), 403(b), most 457...
