401k/403b/457 contribution limits will go up in 2022. Traditional and Roth IRA contribution limits will stay in the same.
You pay higher Medicare Part B and Part D premiums if your income exceeds certain thresholds. Here are the IRMAA income brackets for 2022 and 2023.
Congress is considering banning backdoor Roth and mega backdoor Roth. Do these to catch the last opportunity before the end of 2021.
Use this calculator to see the marginal tax rate on Roth conversions and long-term capital gains when you also receive a subsidy on ACA health insurance.
Don’t jump through hoops to opt out of the 2021 Advance Child Tax Credit. You may miss out on tax benefits if you do. Do nothing and accept the money.
2020, 2021, and 2022 calendar year HSA contribution limits and HDHP qualifications for individual and family coverage. Small changes due to mild inflation.
President Biden’s COVID stimulus package American Rescue Plan turns the ACA premium subsidy cliff to a slope in 2021 & 2022. The cliff will return in 2023.
If you get health insurance from ACA, the government sets the percentages of income you are expected to contribute toward a benchmark policy.
Filing the Form 5500-EZ for your solo 401k plan is super easy but you have to remember to file it. I use these the plan characteristics codes.
If you withdrew from your retirement account due to COVID in 2020, follow this to get the special tax treatment in TurboTax and H&R Block tax software.
Although you will be required to submit more documentation, you should estimate your income as low as possible and get the highest premium subsidy upfront.
Follow these easy step-by-step explanation with screenshots when you enter the 1099-R form for your mega backdoor Roth into H&R Block tax software.