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 […]

Colliding Forces: Russia, Oil, Inflation, and Market Volatility

Any disruption of Russian oil exports would have a significant effect on global supplies and drive prices higher. The Russian invasion of Ukraine has drawn condemnation and punitive sanctions from the United States, Europe, and their allies. The humanitarian cost of war cannot be measured, and the long-term economic effects could take months or years […]

There’s Still Time to Contribute to an IRA for 2021

Making a last-minute contribution to an IRA may help you reduce your 2021 tax bill. If you qualify, your traditional IRA contribution may be tax deductible. And if you had low to moderate income and meet eligibility requirements, you may also be able to claim the Saver’s Credit for 2021 based on your contributions to […]

Federal Tax Filing Season Has Started

IRS started accepting returns: Monday, January 24, 2022 Filing deadline for most individuals: Monday, April 18, 2022 Tuesday, April 19, 2022, if you live in Maine or Massachusetts Monday, October 17, 2022, if you file for an automatic six-month extension by the original due date The IRS announced that the starting date for when it would accept and process 2021 tax-year […]

Will Infrastructure Investment Pave the Way to a Stronger Economy?

This large injection of funds is likely to affect how many Americans commute, travel, transport goods, access the Internet, power homes and buildings, and more. In November 2021, Congress passed the Infrastructure Investment and Jobs Act, a roughly $1 trillion package that reauthorized existing programs and provided more than $550 billion in new funding over […]

2022 Key Numbers

IMPORTANT DISCLOSURES Dightman Capital does not provide tax or legal recommendations. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be […]

The Fed Pivots to Fight Inflation

On December 15, 2021, the Federal Open Market Committee (FOMC) of the Federal Reserve System made a significant shift in monetary policy in response to rising inflation. The Committee accelerated the reduction of its bond-buying program in order to tighten the money supply and projected three increases in the benchmark federal funds rate in 2022, […]

Retirement Investors: This Back Door May Be Closing for Good

In addition to eliminating the conversion of nondeductible contributions from traditional IRAs to Roth IRAs, the proposed legislation includes a similar prohibition on the conversion of after-tax 401(k) contributions (so-called mega-back-door Roth conversions), as well as other retirement-related provisions affecting those with large account balances ($10 million and higher) and high incomes (more than $400,000 […]

Medicare Open Enrollment for 2022 Begins October 15

Where can you get more information? Determining what coverage you have now and comparing it to other Medicare plans can be confusing and complicated. Pay attention to notices you receive from Medicare and from your plan, and take advantage of available help. You can call 1-800-MEDICARE or visit the Medicare website, medicare.gov, to use the Plan Finder […]

The Budget and the Debt Ceiling: Federal Spending in the Crosshairs

On September 28, Treasury Secretary Janet Yellen informed Congress that the government will be unable to pay all of its bills if Congress does not raise the debt ceiling by October 18 On September 30, 2021, Congress averted a potential federal government shutdown by passing a continuing resolution to provide funding for government operations through […]