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Tax Policies South Florida Businesses Should Pay Attention To Ahead Of 2024 Election

August 5, 2024

Given Florida’s unique tax landscape, it’s essential for local businesses to grasp how federal-level changes can impact them. In fact, almost half of the tax leaders surveyed (44%) in BDO’s 2024 Tax Strategist Survey believe the election outcome will pose significant challenges to their business.

Recent Posts

What Does The SSI Savings Penalty Elimination Act Propose?September 30, 2024 - 9:24 pm
The goal of SSI is to support people with disabilities, but as it stands, the program traps many in poverty by penalizing saving and marriage. This is where the SSI Savings Penalty Elimination Act comes in. The bipartisan bill aims to fix the situation by increasing the asset limit for individuals and for married couples.
This Is The ‘Billion-Dollar Blind Spot’ Of 401(k)-To-IRA Rollovers, Vanguard FindsSeptember 23, 2024 - 10:46 pm
Rollovers from a workplace retirement plan to an IRA are common after reaching certain milestones like changing jobs or retiring. However, many investors who move their money to an IRA park those funds in cash for months or years instead of investing it — a move that causes their savings to “languish.”
4 Steps To Take With Investments If Fed Cuts Rates, According To Financial PlannersSeptember 16, 2024 - 10:34 pm
Investors tend to respond emotionally to significant market fluctuations, which can jeopardize long-term growth, particularly in retirement savings. With the Fed expected to cut interest rates to reduce inflation, financial planners weigh in what investors should do.
An Inherited IRA Can Boost Your Finances, But The New Finalized IRS Rules May Mean A Tax HeadacheSeptember 9, 2024 - 7:46 pm
According to new, finalized IRS rules, if you inherited a retirement account in the past several years, it’s likely you’ll have to take distributions and pay taxes on all that money within 10 years. Before the new rule, heirs could “stretch” IRA withdrawals over their lifetime, which reduced yearly taxes.
Six Ways A Bad Credit Score Might Derail Your Retirement PlansSeptember 2, 2024 - 5:23 pm
Preparing for a comfortable retirement goes far beyond contributing to a 401(k). You might encounter devastating surprises in retirement if you’re currently ignoring the personal finance metric of maintaing a good credit score.
There’s Still Time To Max Out 401(k) Contributions For 2024 — But Some Investors Shouldn’t, Experts SayAugust 26, 2024 - 6:43 pm
For 2024, employees can defer up to $23,000 into their 401(k) plans. Experts say, however, even if you can afford to max out your plan, there are three things to consider first.
New Inherited IRA Rules For Non-SpousesAugust 19, 2024 - 8:32 pm
As older generations are the biggest holders of retirement accounts, including the approximately $11.5 trillion held in IRAs today, a significant percentage of the assets is likely to be transferred through inheritance to non-spouse beneficiaries of all ages. Requirements for withdrawals from inherited IRA accounts can be complex so take time to understand the new rules, and consider consulting with a tax professional.
Average 401(k) Balance by Age In 2024: Benchmarking Your Retirement SavingsAugust 12, 2024 - 11:56 pm
A 401(k), 403(b), or other retirement plan is more than a savings account. Retirement savings plans are a wealth-building tool to ensure a comfortable, secure, and stress-free retirement. By understanding how age, income, and gender impact your retirement savings, you can make better-informed decisions that align with your demographic and investment goals.

Tag Archive for: bdo 2024 tax strategist survey

Tax Policies South Florida Businesses Should Pay Attention To Ahead Of 2024 Election

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