Samuel D. Fries

Some Retirement Plan Benefits Will Increase for 2025

With the 2025 tax year almost here, there's news from the IRS about retirement savings. According to a recent announcement from the tax agency (Notice 2024-80), there will be increases to some retirement plan contributions next year due to inflation adjustments. However, with inflation coming down, not all types of retirement plans will see increases, and the amounts for other plans aren't as high as they've been in recent years.

It’s Time to Think about Today’s Favorable Gift and Estate Tax Rules

The Tax Cuts and Jobs Act (TCJA) dramatically increased the unified federal gift and estate tax...

8 Steps Toward Enhanced Financial Security

During uncertain times, you may be concerned about the effects world events will have on your...

IRS Issues New Final Regs on RMDs

The IRS has just released final regulations on required minimum distributions (RMDs) from qualified...

How to Manage Taxes in Retirement

You're planning and saving money for a financially secure retirement. Good for you! But don't...

7 Midyear Tax Planning Tips for Individuals

Summer is a good time to reflect on tax planning moves that could lower this year's tax bill. It...

Ready, Set, Retire

Have you given any thought to your retirement? Even if you don't expect to retire anytime soon, the...

Court Rules Corporate Reporting Law is Unconstitutional but Requirements Remain

Under the Corporate Transparency Act (CTA), many businesses had to begin complying with new...

Social Security Tax Update: How High Can It Go?

Employees, self-employed individuals and employers all pay the Social Security tax, and the bite...

Tips for Reducing the Impact of NIIT

The net investment income tax (NIIT) was enacted more than a decade ago. While repeal has been...