In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights:

You might not like paying taxes, but effective tax planning can reduce your tax burden and help you keep more of what’s rightfully yours! Working with a team of experienced CPAs can unlock the potential for significant savings hidden in your current tax strategies.
At LB Carlson, we take care to ensure you are paying the least amount of taxes while still complying with all relevant tax laws.
How we can help
We provide high-value tax consulting, planning, and preparation to thousands of businesses and individuals. Our team of experienced CPAs can oversee and manage all aspects of federal, state, and local tax compliance, planning, and forecasting.
It can be difficult to keep up with all the latest tax regulations and incentives. We will help oversee your compliance and plan ahead by providing expert advice on how these changes may affect you financially in both short-term and long-term goals. When applicable, we will also let you know how any changes will affect your industry.
Our tax professionals provide the following services:
Our tax services are designed to help business owners and individuals make informed decisions that minimize the amount of tax you will pay while retaining the most profit possible. No matter what your next move is, you can rely on our tax experts to help you evaluate all your options so that you fully understand all tax implications before making major decisions.
Today’s constantly changing tax code is complicated enough. Therefore, we keep our approach to client service simple. When you work with us, you can expect:
No matter which tax planning decisions you are currently faced with, it is imperative to have a trusted advisor by your side that knows the ins and outs of state and local laws. Let’s work together and make sure you are taking advantage of every opportunity available to you.
In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights:
On Monday, November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (“IIJA”). The IIJA repealed the Employee Retention Credit for 4th Quarter of 2021.
The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably over 2021 amounts. As you implement 2021 year-end tax planning strategies, be sure to take these 2022 adjustments into account.
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking about participating in a plan at work, here are some of the features.
Have you ever received your tax return, only to be surprised by the end result? Have you ever said to yourself: “I wish I would have known that before the end of the year!” ? Here’s a guide on how plan ahead so your tax returns don’t catch you by surprise.
Business owners are regularly urged to create and update their succession plans. And rightfully so — in the event of an ownership change, a solid succession plan can help prevent conflicts and preserve the legacy you’ve spent years or decades building.