The IRS recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2018. Although some of the limits will remain the same, many of the limits will increase for 2018. The annual limits for the following commonly offered employee benefits will increase for 2018: High deductible health plans…
Section 415(d) of the Internal Revenue Code requires that the Commissioner annually examine the dollar limitations on benefits and contributions under qualified retirement plans for cost-of-living increases. Please reference the charts below with the updated IRS limits for 2018. IRS Cost-of-Living Adjustments for 2017 – 2018 IRS Limit 2018 2017 401(k), SARSEP & 403(b) Plan…
*** Below is an article from The Journal of Accountancy published by the AICPA. SIMA encourages clients to learn about the proposed bill but to note that no laws have changed at this time. SIMA will continue to keep clients abreast of tax reform as proposed legislation moves through Congress. At an estimated projected revenue…
Despite decades of attention in the media and courts, new spotlights on systemic sexual harassment highlight a significant and costly problem in today’s business environment. According to the U.S. Equal Employment Opportunity Commission, since 2010, more than 7,000 sexual harassment charges have been filed with the agency each year. What is Sexual Harassment? Sexual harassment…
The IRS has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018. Highlights include: The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), and most 457 plans is increased from $18,000 to $18,500. The catch-up contribution limit for those aged 50 and over remains…
