The end of the year can be tricky. While we are busy thinking about holiday plans and 2023 budgets, the 31st sneaks up. It’s the time of year when you need to take a last look at tax benefits.
Tax deductions: The clock is ticking but there is still time to make business purchases and the holiday season is perfect for tax-deductible donations to your favorite charity.
Have you reached the 2022 limit for 529 College contributions? Increasing those deposits can help with tax savings by lowering your taxable income.
The IRS has increased the allowable contribution limits for 401Ks, IRAs and Roth IRAs for 2023. Have you reached out to your employer to increase your contributions?
Consider us a resource during this busy time – we’re always here to help you. Please reach out to us at 215-579-5601 or info@ewmginc.com.
As always, If you have any life changes or updates that you need us to attend to (i.e., new job, promotion, marriage, new baby or grandchild, etc.), please do not hesitate to contact us.
Wishing you and your family a very happy and healthy holiday season.
If you have any life changes or updates to your benefits that you need us to address (I.e., address change, marriage, birth of a child, loss of coverage, etc) please do not hesitate to contact us at 215-579-5601 or email us at info@ewmginc.com.
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