New SECURE 2.0 Act Boosts 401(k) Benefits

The 401(k) plan is the most popular employer-sponsored retirement plan in the United States. As of September 30, 2022, more than $6.3 trillion in assets were held in 401(k) accounts by more than 60 million Read More


Kirsch CPA Group

Apr 25, 2023

Do You Know How SECURE 2.0 Will Affect Your Manufacturing Company?

The SECURE 2.0 Act, enacted at the end of 2022, expands on the retirement plan improvements made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act). In general, SECURE Read More


Kirsch CPA Group

Mar 16, 2023

Key SECURE 2.0 Provisions for Employers

The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) includes important changes that will affect employer-sponsored retirement plans and self-employed people looking to save for retirement. Here's an overview of key provisions Read More


Kirsch CPA Group

Feb 10, 2023

Tax Consequences of Borrowing From a Retirement Plan

If your company has a qualified retirement plan or you have set one up in self-employment -- such as a 401(k), profit-sharing, or Keogh plan -- the participants might be allowed to borrow from their Read More


Kirsch CPA Group

Feb 03, 2023

What Does SECURE 2.0 Mean for 403(b) Plans?

The SECURE Act 2.0, a follow-up to the SECURE Act of 2019, was enacted in the waning days of 2022. This new law introduces sweeping changes for qualified retirement plans, including 403(b) retirement savings plans Read More


Kirsch CPA Group

Feb 03, 2023

A Dozen Ways the SECURE 2.0 Law Helps Individuals and Employees

In the waning hours of the 117th Congress, a large government funding bill was passed that includes many provisions that will help Americans save more for retirement. The Setting Every Community Up for Retirement Enhancement Read More


Kirsch CPA Group

Jan 04, 2023

Succession Planning Considerations for Construction Business Owners

Construction company owners are great at completing projects, but many struggle to properly build a succession plan. Even if your retirement is decades away, it's never too early to start. In fact, by initiating the Read More


Kirsch CPA Group

Dec 14, 2022

Social Security Wage Base and Earnings Test Amounts Increase in 2023

The Social Security Administration (SSA) recently announced that the "wage base" for computing Social Security tax will increase for 2023 to $160,200. This is up from $147,000 for 2022. Federal law limits the amount of Read More


Kirsch CPA Group

Oct 27, 2022

Avoid IRA Rollover Tax Traps

An IRA rollover is usually a tax-smart move, because it allows you to continue to defer taxes on the amount you roll over. But Congress has laid traps for the unwary. Here's how to avoid Read More


Kirsch CPA Group

Sep 28, 2022

401(k) Loans: Yay or Nay?

In today's tough economy, you may find yourself struggling to cover your day-to-day expenses. But rising interest rates are making traditional loans more expensive. In such an environment, you might consider borrowing funds from your Read More


Kirsch CPA Group

Aug 31, 2022