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Retire On Purpose, With Purpose

 
When it comes to managing your retirement, a small mistake can cause a major loss of capital. That is why it's important to speak with a financial advisor who is familiar with your Company's benefits. Schedule a call today..  
 
 
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Inflation Reduction Act: What You Should Know

Aug 18, 2022 10:50:01 AM
written by The Retirement Group

The Inflation Reduction Act, signed into law on August 16, 2022, includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate stock buybacks. Additional funding is also provided to the IRS. Some significant provisions in the Act are discussed below.


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posted in Financial Planning, Inflation, IRS, Inflation Reduction Act

Is the U.S. Economy in a Recession?

Aug 12, 2022 11:18:40 AM
written by The Retirement Group

In an early July poll, 58% of Americans said they thought the U.S. economy was in a recession, up from 53% in June and 48% in May. 1 Yet many economic indicators, notably employment, remain strong. The current situation is unusual, and there is little consensus among economists as to whether a recession has begun or may be coming soon. 2

Considering the high level of public concern, it may be helpful 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

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, medical, and moving expense purposes for the second half of 2022. The standard mileage rate for computing the deductible costs of operating an automobile for charitable purposes is set by statute and remains unchanged.

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

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