Stadium Wealth Management
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💼🔍 The IRS is expecting to collect hundreds of billions more in overdue and unpaid taxes, thanks to the Inflation Reduction Act. The Inflation Reduction Act has provided the IRS with an $80 billion funding boost, enabling enhanced enforcement efforts.
This increase in funding aims to reduce the tax gap, which is the difference between taxes owed and taxes paid, currently standing at over $600 billion annually. However, the IRS has committed not to increase audit rates on people earning less than $400,000 a year, which could bring some relief to middle-class taxpayers.
Source:
IRS expects to collect hundreds of billions more in overdue and unpaid taxes thanks to new funding The IRS says it expects to collect hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated using funding provided to the agency.
In recent months, there has been a surge in companies discussing and embracing the use of artificial intelligence (AI). With its potential to revolutionize industries and drive innovation, AI has become a focal point of strategic planning and development for S&P 500 organizations.
Old plans can seem stale compared to new events. Let's chat to keep yours up to date.
Your plans may need updating to keep up with any life changes. Let's talk about how you can adapt and thrive.
The SECURE Act 2.0 was signed into law as part of the $1.7 billion spending bill. How will this affect your retirement savings? NPR has the details: #2.0
The federal spending bill will make it easier to save for retirement. Here's how From emergency savings accounts to assistance for student loan borrowers, the new federal spending bill aims to make it easier to save for retirement.
What seemed enough in the past may not now. Let's talk to make sure you are ready for life's speed bumps.
As the market changes, so does the path to your goals. Let's talk to help you get there.
The IRS announced adjustments for 2023, which address a few key areas:
https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2023.
What does that mean for you?
There are changes to capital gains tax rates, annual exclusion for gifts, estate tax exclusion, and more.
Have questions about the new rules? My office has 2023 tax resources that you may find helpful.
This material is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax professional before modifying your tax strategy.
It's more important than ever to protect yourself from scammers during Medicare's open enrollment. CNBC has the info:
'Sirens should go off': How to avoid getting duped by Medicare scammers during open enrollment As beneficiaries are encouraged to review their coverage for 2023, fraudsters may try to capitalize on that and cast a broad net to lure in victims.
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1102 Broadway, Suite 300
Tacoma, WA
98402
6402 19th Street W
Tacoma, 98466
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