IRS Issues Guidance on State Tax Payments
Mar 16, 2023 10:30:00 AM
written by
The Retirement Group
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posted in Financial Planning, Tax, Retirement, IRS, 2023
IRS Releases Standard Mileage Rates for 2023
Mar 14, 2023 10:30:00 AM
written by
The Retirement Group
Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2023. However, the standard mileage rates for medical and moving expense purposes remain the same for 2023. The standard mileage rate for computing the deductible costs of operating an automobile for charitable purposes is set by statute and also remains unchanged.
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posted in Financial Planning, Mileage, IRS, 2023
Five Ways SECURE 2.0 Changes the Required Minimum Distribution Rules
Feb 17, 2023 9:18:20 AM
written by
The Retirement Group
The SECURE 2.0 legislation included in the $1.7 trillion appropriations bill passed late last year builds on changes established by the original Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) enacted in 2019. SECURE 2.0 includes significant changes to the rules that apply to required minimum distributions from IRAs and employer retirement plans. Here's what you need to know.
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posted in Financial Planning, Retirement, RMDs, IRS, SECURE Act
2023 Federal Tax Filing Season Has Started
Feb 1, 2023 10:15:00 AM
written by
The Retirement Group
The IRS announced that the starting date for when it would accept and process 2022 tax-year returns was Monday, January 23, 2023.
Tips for making filing easier
To speed refunds and help with tax filing, the IRS suggests the following:
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posted in Financial Planning, Mileage, IRS, Tax Season
Inflation Reduction Act: What You Should Know
Aug 18, 2022 10:50:01 AM
written by
The Retirement Group
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posted in Financial Planning, Inflation, IRS, Inflation Reduction Act
Fortune 500 Employees: Is the U.S. Economy in a Recession?
Aug 12, 2022 11:18:40 AM
written by
The Retirement Group
Considering the high level of public concern, it may be helpful for Fortune 500 employees and retirees to look at how a recession is officially determined and some current indicators that suggest strength or weakness in the U.S. economy.
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posted in Financial Planning, Gas, Mileage, IRS
IRS Increases Standard Mileage Rates for Last Half of 2022
Aug 12, 2022 11:06:26 AM
written by
The Retirement Group
For July 1, 2022, to December 31, 2022, the standard mileage rates are as follows:
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posted in Financial Planning, Gas, Mileage, IRS