Category: News
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FINAL: 2023 Social Security Pay Raise
Over the past few months, there has been much discussion on the estimated Cost-of-Living Allowance (COLA) for 2023. We’ve had various estimates ourselves, but without the final CPI-W numbers, it was largely speculation, especially early in the year. The Verdict The final COLA, effective Jan 1, 2023, will be 8.7%. This figure applies to Social
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Save more; increased retirement plan contribution limits for 2023
Each year, the IRS sets the contribution limits for 401(k)-style plans, and Individual Retirement Accounts (IRAs). These increases are based on inflation, and this year, we’ve experienced quite a bit of that. HSA plans also received an increase announcement earlier in 2022, for those of you wondering. 401(k), 403(b), and 457(b) The 2023 contribution limit
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Social Security Increase Prediction: 2023
The Consumer Price Index for Wage Earners & Clerical Workers (CPI-W) for August was released earlier this week. While inflation did slow compared to the earlier parts of the year, it hasn’t subsided by any means. In fact, the Federal Reserve is probably going to give interest rates a rather large hike to combat this persistent trend.
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Student Loan Forgiveness 2022; What This Means For Everyone
Since Federal student loans were created in 1958 under the National Defense Education Act (NDEA), we have been slowly heading toward a national crisis. This past week, it culminated with President Biden forgiving up to $20,000 in loans for certain borrowers. The problem? It does nothing to actually solve the problem. President Biden’s executive order
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Here is why everyone is afraid of the IRS
When anyone hears the acronym ‘IRS’, which stands for Internal Revenue Service, they experience a quick bout of fear, followed by a moment of relief that they’re not on the audit list, followed by thoughts of wonder as to why the IRS even exists. This is completely normal behavior, and we’re here to support you!
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As News of Recession Looms, the US Government Says “It’s Complicated”
As news of a recession looms, the US Government attempts to expel fears by refusing to acknowledge the traditionally accepted definition of a recession.
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Social Security pay raise 2023
Yet again, the inflation numbers have been released they are worse than expected. This has been a continuing trend in the past few months. While this is harming purchasing power for nearly all Americans, it is also causing a secondary effect: an increasing federal budget. That’s right, let’s take a look at the 2023 COLA projection.