2016

2 Extended Credits Can Save Businesses Taxes on 2015 returns

March 8, 2023January 13, 2016

2 Extended Credits Can Save Businesses Taxes on 2015 returns The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) extended a wide variety of tax breaks, in some cases making them permanent. Extended breaks include many tax credits — which are particularly valuable because they reduce taxes dollar-for-dollar (compared to deductions, for example, which reduce only the amount of income that’s taxed). Here are two extended credits that … Read more

Contribution Limits: No changes to retirement plan contributions for 2016

March 8, 2023December 31, 2015

Contribution Limits: No changes to retirement plan contributions for 2016 Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, the limits remain unchanged for 2016: Nevertheless, if you’re not already maxing out your contributions, you still have an opportunity to save more in 2016. And if you turn age 50 in 2016, you can begin to take advantage of catch-up contributions. However, keep in mind that … Read more

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