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Social Security: Cost-of-Living Adjustments
To compensate for the effects of inflation, Social Security recipients usually receive an annual cost-of-living adjustment (COLA). According to parameters outlined in the Social Security Act (42 U.S.C. §415(i)), a ... >>
The Retirement Savings Contribution Credit and the Saver’s Match
The Retirement Savings Contribution Credit (Internal Revenue Code [I.R.C.] §25B)—commonly referred to as the Saver’s Credit—is a tax expenditure meant to encourage low- and moderate-income taxpayers to save for retirement. >>
529 Plans: Learn the Tax and Financial Planning Benefits of College Savings
Like so many items these days, college is getting increasingly expensive. Starting to save early can be a big help, especially if you look at investment opportunities offering tax free ... >>
Distribution of IRS Audits by Income and Race
Some in Congress have expressed concern about who is audited and how that has changed over time. >>
Has the Federal Reserve Achieved a Soft Landing in 2023?
Since the Federal Reserve (Fed) began raising rates in response to high inflation in March 2022, it has been trying to achieve a “soft landing”—a return to low inflation while ... >>
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Official Forecast: 2023 Social Security COLA
The US Bureau of Labor Statistics just released the CPI-W for August, which means were getting closer to determining 2023's Social Security COLA (Cost of Living Adjustment).
