Despite rising mortgage rates, real estate prices in Florida continue to climb, leaving many Florida homeowners feeling trapped in their current homes. As real estate prices increase, so do property taxes. However, homeowners can mitigate this through the Homestead Exemption. This article explains how the Homestead Exemption works, how property taxes are calculated, and the…
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The Internal Revenue Service (IRS) has announced the new contribution limits for retirement plans for 2024. Workers will now be able to elect for up to $23,000 of salary deferrals to 401(k) plans, 403(b) plans, most 457 plans, and Thrift Savings Plans. If you are age 50 or above, you can elect for an additional $7,500…
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The rapid collapse and subsequent bankruptcy of FTX, a Bahamas-based cryptocurrency exchange, has consumed mainstream media outlets since mid-November. Many people, both professionals, and next-door-neighbors are talking about whether or not cryptocurrency is dead, and some of them are wondering whether they will ever receive their lost cryptocurrency again. Background FTX was a cryptocurrency exchange…
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The Internal Revenue Service (IRS) has taken notice of the rise of inflation and has adapted by increasing the contribution limits to company retirement plans. Below is a chart showing how much an individual should contribute to their 401(k) plan through salary deferrals per paycheck to maximize their 2023 employee contributions. A couple of things…
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Inflation has taken a huge toll on Americans and the Internal Revenue Service (IRS) has taken steps to adapt to the increase. Starting in 2023, the IRS will allow you to contribute more than ever to your retirement accounts. Workers will be able to elect for up to $22,500 of salary deferrals to 401(k)plans,…
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What is an I-Bond? US Treasury Series I-Bonds (I-Bonds) are inflation-adjusted savings bonds. Interest compounds every six months (May and November), and the rates are also reassessed at that time. The annual interest rate for I-Bonds purchased from November 2022 through April 2023 will be 6.89%. The stated rate applies for the first 6 months…
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