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On 13th of November the IRS has released the 2026 contribution limits for retirement account. The following are the updated limits for each type of account. 401(k), 403(b), Governmental 457 and Thrift Savings Plan The contribution limit has been increased to $24,500, up from $23,500 for 2025. Individual Retirement Agreement (IRA Accounts) The limit for IRA type accounts has been increased to $7,500 for 2026. Catch up Contributions 401(k) and other employee plans catch up co

Salary updates for employers to know.

Effective on the first of October 2025, the Internal Revenue Service is no longer accepting or issuing paper checks. This means that estimated payments must now be paid online and tax refund checks will direct deposited to your bank account. This is in response President Trump's Executive Order 14247 helping to reduce waste, fraud and increase security. If you have any questions on how to pay your estimated payments, reference my blog post "How to Make a Payment".

With President Trump signing the O3B Act on July 4th, 2025 as Public Law 119-21 and the changes set to take affect in 2025 it is important to know how it will affect you. While this list is not complete with all the changes, these are the changes that will affect the majority of the population. No Tax on Tips The "No Tax on Tips" deduction is effective for 2025 through 2028. This deduction applies to "qualified tips" meaning voluntary tips from customers and split via tip sha