October 2022 - Rausa, Barlotta & Associates, PA

2023 Contribution Limits: 401(k) increases to $22,500; IRA to $6,500

October 25, 2022

The IRS has released 2023 inflation-adjusted contribution limits, phase-out ranges, and income limits for various retirement accounts. For 2023, the amount an individual can contribute to a [...]

What Local Transportation Costs Can Your Business Deduct?

October 18, 2022

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what is “local transportation?” It [...]