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Is Your 401(k) Plan Ready for SECURE 2.0 in 2025?

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Most years, the only thing we have to worry about when it comes to retirement plan administration is adjusting for the cost-of-living increase to contribution limits.  Some years we don’t even have that, but this year is an exception with that, plus major changes you will need to make and consider.  So first, the easy stuff. The cost-of-living increase, to the maximum amount an individual can contribute to their 401(k), 403(b), governmental 457 and the Thrift Savings plans, will be increased to $23,500, up from $23,000 in 2024. The catch-up contribution will remain at $7,500 and the limit on annual…

Tax Protestors. Don’t Get Caught Up in Their False Claims

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Did you hire someone who is giving you pushback on submitting a W-4 form, or maybe they even presented you with a little-known tax form stating that they do not pay taxes? If so, you may have hired a tax protestor. No need to panic; you may be able to talk some sense into them. Tax protestors could simply be misinformed individuals, and with social media exposure, that is easy to come by. I have seen TikTok videos, X posts, YouTube and the like, falsely leading people down this path. They claim that taxation is voluntary, does not apply to…