Daily Archives: February 4, 2022

Numerous tax limits affecting businesses have increased for 2022

For Business, TaxBy NBZ Staff February 4, 2022

Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at…

The Ins and Outs of IRAs

For Individuals, TaxBy NBZ Staff February 4, 2022

Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an annual deductible contribution to a traditional IRA if: You (and your…