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No Increase in IRA Limits? Here’s How You Can Still Save in 2022.
NewsAgemy Financial December 01, 2021 If you’re proactive about retirement savings or want to up your savings game this year, you may already know that retirement contribution limits stayed the same for 2022. Here’s what you need to know on how you can still save more for retirement. High earners have a variety of options for […]
Understanding RMDs and What You Need to Know for 2022
NewsAgemy Financial November 26, 2021 How well do YOU understand RMDs? With the RMD deadline looming, you need to take action now before it costs you big bucks. A required minimum distribution (RMD) is the amount of money that must be withdrawn from an employer-sponsored retirement plan, traditional IRA, SEP, or SIMPLE individual retirement account […]
2022 Tax Inflation Adjustments
NewsAgemy Financial December 08, 2021 On Nov. 10, 2021, the IRS announced inflation adjustments for 2022 affecting standard deductions, tax brackets, and more. The changes (effective when you file in 2023) are the result of higher inflation in 2021. There are also changes to the alternative minimum tax, estate tax exemption, earned income tax credit and […]
The Update on the Proposed Reconciliation Bill
NewsChanges are again said to be underway at the Whitehouse level. And it could severely affect your retirement. Here’s what you need to know… Under the Reconciliation proposal, starting in 2023, employers with five or more employees would have to offer a retirement plan and automatically enroll employees, diverting 6% of their pay to a […]
Planning for Higher Tax Bills for Retirees
NewsTax planning and financial planning go hand-in-hand. As you near retirement, avoiding tax planning could create major hurdles for your financial future. Here’s what you need to know about the potential impending tax hikes and what they could mean for your golden years. There’s a common misconception that when you retire, your tax bills shrink, […]
Two Financial Planning Topics to Bring to the Table This Thanksgiving
NewsAgemy Financial October 27, 2021 Bringing up money with family can be uncomfortable and even be seen as taboo. But this year instead of avoiding the issue, address it head on when the family is all together over Thanksgiving. Here’s how. Family and personal finances are a big part of every holiday season. People are […]