The SECURE 2.0 Act of 2022 introduced a significant update for individuals aged 60 to 63 who want to boost their retirement savings. This new provision allows higher catch-up contributions for eligible participants, providing an opportunity to maximize savings in the crucial years leading up to retirement.
Key Highlights of the Enhanced Catch-Up Contribution
1. Increased Contribution Limits
Starting in 2025, individuals aged 60 to 63 can contribute the greater of $10,000 or 150% of the standard 401(k) catch-up limit for 2024. These limits will be adjusted annually for inflation to ensure they remain beneficial over time.
February 26, 2025 | Retirement Planning
The SECURE 2.0 Act of 2022 introduced a significant update for individuals aged 60 to 63 who want to boost their retirement savings. This new ...
Learn More
February 24, 2025 | Financial Planning
Recent developments in tariff policies have made waves in global markets, leading to significant economic uncertainty. As highlighted in Jason Blackwell, CFA’s article, tariffs are ...
Learn More
February 20, 2025 | CTA Compliance Service
The Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements are once again enforceable following a recent court ruling. Here’s what business ...
Learn More
February 19, 2025 | Tax Planning
On February 13, 2025, U.S. Senators Kevin Cramer (R-ND) and John Thune (R-SD) introduced the Death Tax Repeal Act, a bill aimed at permanently eliminating ...
Learn More
February 17, 2025 | Estate planning
When people hear the word “trust,” they often assume it’s a tool reserved for the ultra-wealthy to pass down millions of dollars to future generations. However, trusts are not just for the wealthy. In fact, they can ...
Learn More
February 12, 2025 | Financial Planning
As 2025 begins, clients and advisors should be proactively planning to optimize their wealth strategies. With potential tax changes, the sunsetting of certain exemptions, and evolving regulations, staying ahead ...
Learn More
February 10, 2025 | Estate planning
When it comes to estate planning, many high-net-worth individuals hesitate to transfer assets out of their control. A common misconception is that once assets are ...
Learn More
February 5, 2025 | Financial Planning
Investing is one of the most effective ways to grow your wealth over time. While it comes with risks, a well-planned strategy can help you ...
Learn More
February 3, 2025 | Tax Planning
Tax Preparation Tips Organizing your documents ahead of tax season can save time and ensure you don’t miss out on potential deductions. Be sure to ...
Learn More
January 27, 2025 | CTA Compliance Service
On January 23, 2025, the U.S. Supreme Court made headlines by granting the government’s motion to stay a nationwide injunction that had temporarily halted enforcement ...
Learn MoreClick here to see how we
can be of assistance.
This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.
Connect with us on Social Media using the following buttons:
Listen in, Join the Conversation!
Explore retirement planning strategies for business owners and families, including retirement income, taxes, investments, healthcare, and legacy planning. Retirement Planning Begins With a Bigger Question ...
<p>The post Retirement Planning Is More Than Saving: Building a Strategy for Your Next Chapter first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
Explore tax planning considerations for jewelry business owners, including LLC and S corporation structures, diamond inventory valuation, and year-end decisions. When Business Success Creates More ...
<p>The post Tax Planning for Jewelry Business Owners: Entity Structure, Inventory Valuation, and Year-End Opportunities first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
Discover how business owners can use cash flow forecasting, financial reviews, and proactive tax planning to manage profitability and avoid costly surprises. Growing Revenue Is ...
<p>The post Making More Money? Why Cash Flow and Tax Planning Matter More Than Ever first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
