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IRS Releases 2023 Key Numbers for Health Savings Accounts

The IRS has released the 2023 key tax numbers for health savings accounts (HSAs) and high-deductible health plans (HDHPs). The IRS has released the 2023 contribution limits for health savings accounts (HSAs), as well as the 2023 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). An HSA is a tax-advantaged account that’s … Read more

Now Might Be a Good Time for a Roth Conversion

A cost-benefit analysis could help determine whether it would be beneficial to pay taxes on some of your IRA assets now rather than later. One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject … Read more

Could the Price of Oil Hit $250 This Summer?

 Could the Price of Oil Hit $250 This Summer?  If it does, think higher inflation, lower economic growth and global recession The stock market has been awful through the summer of 2022 – declining in January, February, April, May and June, with just the month of March recording positive numbers. Naturally, these declines and the … Read more

The Fed Makes the Biggest Rate Hike in 28 Years

The Fed Makes the Biggest Rate Hike in 28 Years Implications for investors and markets after the largest increase since 1994   From the Federal Reserve press release dated June 15, 2022:  “Overall economic activity appears to have picked up after edging down in the first quarter. Job gains have been robust in recent months, and … Read more

The Health of Social Security: Some Good News and Some Bad News

The Health of Social Security: Some Good News and Some Bad News With approximately 94% of American workers covered by Social Security and 65 million people currently receiving benefits, keeping Social Security healthy is a major concern.1 Social Security isn’t in danger of going broke — it’s financed primarily through payroll taxes — but its … Read more

What Should You Do as Markets Flirt with Bears?

The standard definition of a bear market is when major U.S. stock indices, such as the S&P 500, drop by 20% or more from their peak. And 5+ months into 2022, we see NASDAQ and the smaller-cap Russell 2000 both in the grips of a bear and the DJIA and S&P 500 darting just outside … Read more

Federal Student Loan Repayment Postponed for Sixth Time

Federal Student Loan Repayment Postponed for Sixth Time On April 6, the U.S. Department of Education announced a record sixth extension for federal student loan repayment, interest, and collections, through August 31, 2022.1 The fifth payment pause was set to end on April 30, 2022. The six extensions have postponed federal student loan payments for almost … Read more

Watch Out for These Common Tax Scams

According to the Internal Revenue Service (IRS), tax scams tend to increase during tax season and/or times of crisis.1 Now that tax season is in full swing, the IRS is reminding taxpayers to use caution and avoid becoming the victim of a fraudulent tax scheme. Here are some of the most common tax scams to watch … Read more

Is the Russia-Ukraine War a Threat to the Global Economy?

Before Russia stunned the world by invading Ukraine, it was widely believed that the economic ties formed through globalization would help promote peace. But the war is testing that assumption and drawing attention to the vulnerabilities in far-flung supply chains, which were already under pressure because of the pandemic and recovery. In response to the … Read more

Help Wanted: Why Can’t Businesses Find Enough Workers?

The headline U.S. unemployment rate fell from 6.7% at the end of December 2020 to 3.9% in December 2021, marking the biggest one-year improvement in history.1 While many workers took advantage of this strong rebound in the job market, companies large and small have been struggling with labor shortages. A conspicuous lack of workers has snarled … Read more