“For the vast majority of people, the issue of how to save, invest and spend in retirement is the hardest, nastiest problem in finance.”

Congress hasn’t made this tough problem easier. When lawmakers can agree at all, they layer poorly drafted law upon law, leaving both the Internal Revenue Service and savers to confront a maze of confusing provisions.

Beginning in 2024, most small to mid-size businesses formed under state law will be required to report their BOI. Existing businesses have until the end of the year, but new businesses formed in 2024 only have 90 days from the date of formation to file a report.

Ever since the tax overhaul of 2017, millions of Americans haven’t gotten key tax breaks for giving to charity. But a growing group of seniors can still reap remarkable benefits from donations—if they put up with hassles.

As of Oct. 1, the Internal Revenue Service is charging 8% interest on estimated tax underpayments, up from 3% two years ago. The increase is one of the many effects of rising interest rates.

This week we will look at some of the more common forms that you should be watching for in the coming weeks and months.

Hopefully, you followed some of the suggestions outlined in Publication 552 to organize your records. I

We are going to take a break from our tax and business tips this week. Instead, the family of Bradstreet & Company would like to wish you and your family the most joyous holiday season and best wishes for 2023.