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Pension Plan Limitations: What You Need to Know Heading into 2016

Pension Plan Limitations: What You Need to Know Heading into 2016

 

WASHINGTON — The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016.  In general, the pension plan limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment.  However, other limitations will change because the increase in the index did meet the statutory thresholds.

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Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
7 Steps to Combat Elder Fraud

Every year around this time, the IRS issues a warning about scams that attempt to victimize taxpayers and steal from them. More often than not, the victims of these crimes are senior citizens. The scams have varying levels of sophistication. From simple - such as...

Changes to the Estate and Gift Tax Exemption under TCJA

The Tax Cut and Jobs Act (TCJA) has brought about the largest change to the U.S. tax code in over 30 years. One of the areas of the code that has been significantly impacted by these sweeping changes deals with estates. The TCJA, which became effective January 1,...

What to Do When a Client Dies

As a trusted advisor, one’s CPA is often one of the first people notified when a client dies.  As a CPA, it is critical to know and understand both the legal and moral steps involved in helping a family cope with a death. It is important to note that family...

5 Efficiency Tools You Should Evaluate

Do you ever feel like there aren’t enough hours in the day? Do large, important tasks get waylaid by frequent, trivial disruptions? You’re not alone! The great thing about the information age is you can get news and information at any moment of the day. The bad thing...

The Pros and Cons of Selling to Employee(s)

If you’re planning on selling your business, one potential market is your current employees. They understand the business and how it runs. They have some sense of the value, or potential value of the business. But before you offer to sell to your employees, you should...

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