RMD and Estimated Tax Payments: Considerations and Tax Strategies

Many taxpayers may not realize that taxes are not automatically withheld from RMDs. There are tax strategies to manage estimated tax payments, but the deadline of Dec. 31 is quickly approaching.

2022-12-13T13:27:58-05:00December 13, 2022|Categories: Tax: Individual, Wealth Management|Tags: |

This Could Be a Good Time to Convert to a Roth IRA

If you're like many who are saving for retirement, the value of your retirement accounts has dropped considerably during 2022. It may be time to consider converting to a Roth IRA.

2022-11-17T16:34:02-05:00November 17, 2022|Categories: Retirement, Tax: Business, Tax: Individual|Tags: , |

Webinar Recording | Top 10 Tax Strategies for 2022

Join PBMares on November 16 to discover the top 10 tax strategies businesses and individuals should consider before year-end, including traditional tax strategies, charitable planning, and Roth IRA conversions.

Increase in Social Security Wage Base, Wage Caps and Benefit Amounts Announced for 2023

The Social Security Administration recently announced their annual inflation changes to the Social Security wage base, annual wage cap, and benefit amounts that will be effective January 1, 2023. These 2023 inflation increases are the largest percentage increases since 1981 and the fourth-largest increase ever for the Social Security program.

2022-11-11T16:22:26-05:00November 11, 2022|Categories: Tax: Business, Tax: Individual|Tags: , |

IRS Announces Significant Annual Inflation Adjustments for over 60 Tax Provisions for 2023

The IRS announced its annual inflation adjustments on October 18 in Revenue Procedure 2022-38.  As expected due to soaring inflation over the past year, the tax adjustments are significant this year with most adjustments increasing around 6 to 7 percent.   

2022-10-26T09:15:08-04:00October 25, 2022|Categories: Tax: Individual|Tags: , |
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