The latest news from BKR Americas

Important Tax Figures for 2023

Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some tax figures for 2023, compared with 2022, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions and more. Good news: Many increases are higher than in past years due to inflation.

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5 Major Tax-Favored Retirement Plan Changes for Individuals under New Law

On December 29, President Biden signed the omnibus spending bill, which includes the long-awaited Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0). Among many other provisions, this new law includes five major taxpayer friendly changes that may help you save for retirement. Here are the details.

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Federal Tax News for Individuals

1. Energy Efficient Home Tax Credit FAQs
2. Two Innocent Spouse Relief Outcomes in Court
3. Whistleblower Qualifies for IRS Award
4. Didn’t File a Tax Return? The IRS May File for You
5. Clean Vehicle Tax Credit List Expands

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Recent Posts

NFPs may be required to register for income tax exempt status
March 29, 2024
NFPs may be required to register for income tax exempt status

The Australian Charities and Not-for-profits Commission (ACNC) and the Australian Taxation Office (ATO) remind not-for-profit organisations (NFPs) that if they...

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Tax Bulletin – March 2024
March 4, 2024
Tax Bulletin – March 2024

Super contribution cap to rise The big news story for those contributing to super is that the contribution caps are...

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Tax Bulletin- January/February 2024
February 5, 2024
Tax Bulletin- January/February 2024

Government announces changes to proposed 'Stage 3' tax cuts Despite previous assurances, and after much speculation, the Government has announced...

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Special Bulletin- Christmas Parties & Gifts (Tax Deductions) 2023
December 13, 2023
Special Bulletin- Christmas Parties & Gifts (Tax Deductions) 2023

Year-end (and other) staff parties – Income Tax Implications Note: With the well-earned December/January holiday season on the way, many...

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