According to an October 2023 survey, higher interest rates impacted more than half of small businesses, and over 20% reported that higher rates and tighter lending standards influenced their hiring decisions.1
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Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2024.
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The SECURE 2.0 Act, passed in December 2022, made wide-ranging changes to U.S. tax laws related to retirement savings. While some provisions were effective in 2023, others did not take effect until 2024.
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Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024.
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As you plan for retirement, you might not give credit a second thought, especially if your plan includes paying off your mortgage and other debts
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