In December 2022, the Secure Act 2.0 was passed. As we get farther into 2023 more conversations are developing around the topic, so we wanted to provide you with a reminder of some of the big takeaways. Required minimum distribution ages increased starting on 1/1/2023: Increased to 73 years old until 2032 Will be increased yet again to 75 on 1/1/2033 Changes to catch-up contributions: Anyone making over $145,000 will be taxed on their catch-up contributions in the year that they are contributed to the account (treated as ROTH) beginning in 2024. In 2025 the limit for catch-up contributions will be increased to $10,000 to 401(k) and SIMPLE plans for individuals ages 60, 61, 62, and 63. Automatic enrollment is Read More...
Archives for June 2023
Christianson Paynesville Office has Relocated and Expanded!
We are proud to announce that we have moved our Paynesville office to 705 State Highway 55 Paynesville, MN effective June 1st, 2023. We were able to expand not only our office but also our Paynesville staff, in large part because of all the support from the Paynesville community since opening our doors 6 years ago. The office expansion is also aligned with our firm’s commitment to expand business opportunities and attract top talent to better serve our clients. “We are extremely happy and excited to relocate to our new office space in Paynesville, “said Chelsey Mueller, Tax Manager at Christianson. “The move represents our continued commitment to serving our clients at the highest levels and reaffirms our commitment to the Paynesville Read More...