The New Capital Journal
Financial news, views, advice, and guidance.
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Retirement Plan Limits for 2024
Retirement savings limits are once again on the rise in 2024.
SECURE 2.0 Provides New Retirement Savings Options in 2024
While some provisions were effective in 2023, many important changes did not take effect until 2024.
Transfer of Clean Vehicle Tax Credit to Dealer as Payment for the Vehicle
Federal tax credits may be available to help offset your cost to purchase certain clean vehicles.
Medicare Open Enrollment Begins October 15
If you are covered by Medicare, it's time to compare your current coverage with other available options.
Claiming the Home Energy Audit Tax Credit
The IRS has announced guidance for the home energy audit tax credit.
What's Happening in the World of Higher Education?
Sky-high costs and growing skepticism are not the only factors playing into enrollment declines.
RMD Relief and Guidance for 2023
The IRS has announced certain relief and guidance for RMDs for 2023.
U.S. Supreme Court Blocks Student Loan Cancellation, Payments to Resume
Three important developments occurred recently in the world of federal student loans.
VIDEO: The Fed's Rate Moves and Inflation
The Fed has initiated this rapid series of rate increases, the fastest set of increases since the 1980’s, in an attempt to slow the economy and bring down red-hot inflation.
Transformative Tech: Will AI Upend the American Workforce?
Generative AI could complement two-thirds of jobs by helping workers complete tasks in less time.
New Clean Vehicle Tax Credit Guidance Issued
The new clean vehicle tax credit may be available to help offset your cost to purchase certain electric, plug-in hybrid, and fuel cell vehicles.
What You Should Know About the Federal Reserve's New Instant Payments System
The Federal Reserve will be launching its own real-time, instant payments system called the FedNow Service (FedNow).
Rescuing America's Safety Net
Both Medicare and Social Security — the cornerstones of "America's Safety Net" — face serious fiscal challenges that require Congressional action.
SECURE 2.0 Adds New Early Withdrawal Exceptions
Withdrawals covered by these new exceptions can be repaid within three years.
Federal Income Tax Returns Due for Most Individuals
The federal income tax filing deadline for individuals is generally Tuesday, April 18, 2023.
There's Still Time to Fund an IRA for 2022
You have until your tax return due date, excluding extensions, to contribute up to $6,000 for 2022 ($7,000 if you were age 50 or older on December 31, 2022) to all IRAs combined.
The US National Debt
Included are two articles focusing on the US National Debt: “The Debt Ceiling and Deficit Spending”; and “What is the US National Debt and How Has It Grown Over Time?”
Five Ways SECURE 2.0 Changes the Required Minimum Distribution Rules
The RMD rules are designed to spread out the distribution of your entire interest in an IRA or plan account over your lifetime.
Federal Tax Filing Season Has Started
The IRS announced that the starting date for when it would accept and process 2022 tax-year returns was Monday, January 23, 2023.
Is the Yield Curve Signaling a Recession?
Yield curve inversions do not cause a recession; rather they indicate a shift in investor sentiment that may reflect underlying economic weakness.