IRS provides initial guidance to employers setting up emergency savings accounts for their employees |
The Internal Revenue Service today issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs).
Authorized under the SECURE 2.0 Act of 2022, PLESAs are individual accounts in defined contribution plans and are designed to permit and encourage employees to save for financial emergencies.
Employers can offer PLESAs in plan years beginning after Dec. 31, 2023. This means that, in some cases, eligible employees could have begun contributing to a PLESA as early as Jan. 1, 2024. Subject to certain restrictions, matching contributions are made with respect to PLESA contributions at the same rate as contributions to the linked defined contribution plan.
Employees who are eligible to participate in an employer’s defined contribution plan and qualify to contribute to a PLESA, if their employer offers one, may contribute to the PLESA even if they don’t participate in the employer’s defined contribution plan. In general, the maximum balance in a participant’s PLESA (attributable to contributions) is $2,500, though employers can choose to set a lower limit.
PLESAs are treated as designated Roth accounts. This means that contributions are not tax deductible, but withdrawals are generally tax free. Participants can withdraw funds held in the PLESA at least once a month, as necessary.
Guidance on reasonable measures employers who offer PLESAs can take to discourage potential manipulation of the PLESA matching contribution rules can be found in Notice 2024-22, posted today on IRS.gov. The notice also requests public comment and explains how to submit comments.
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1099 Deadline Rapidly Approaching!
The 1099 deadline is rapidly approaching! All 1099-NEC's and 1099-Misc are due by January 31st!
The IRS recently issued an e-filing requirement for business owners to file their 1099 forms electronically if they have more 10 + forms to file. (this includes 1099's & W-2's).
If we have assisted you in prior years with your 1099's, you are on our list and we will be in contact with you this coming week. If not and you would like assistance, we will need the information by January 24th in order to guarantee that they will be processed in a timely manner!
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To schedule your business tax prep appt w/Jill, CLICK HERE
To schedule your individual tax prep appt w/ Jill, CLICK HERE
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“The Waterbearer is the Symbol for Aquarius
On Saturday January 20, 2024 a Major Cosmic Shift
Pluto Transitions from Capricorn into Aquarius:
Past and Future Personal Plutonian Impacts
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This cosmic shift is momentous. It holds implications for massive changes in society and for us as individuals.
Pluto in Capricorn: Pluto's journey through Capricorn, began in 2008. It brought forth intense energies associated with health, political power struggles, and government restructuring. Capricorn, an earth sign, relates to tangible assets including money. Notably bitcoin and crypto currencies were born in 2009 – right at the beginning of Pluto entering Capricorn. During this period, global events such as economic crises, political upheavals, and shifts in power dynamics unfolded.
To gain a real sense of just how impactful Pluto, the planet of transformation, may have been in your life, I encourage you to take a minute to assess for yourself: Over the past 16 years have you experienced meaningful personal transformations, in your goals and ambitions and in the practicalities of how you live your life? To spark your thinking: consider how, in some very practical way (the nature of earth signs), you are quite a different person from who and how you were before the pandemic.
The Pluto Transition to Aquarius: As Pluto transitions into Aquarius, an air sign, a new era dawns where changes and transformations in the way we collectively, and you personally, think about life are very likely. With, now, Pluto being in an air sign the focus will be on transformational ideas, innovation, and revolutionary values. The transition to Aquarius brings with it an association to the Waterbearer, the Aquarian Symbol. The image of the Waterbearer, a figure pouring water from an urn harkens back to an ancient time when women played a pivotal role in what was, for the times
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, a “technological” breakthrough. A community’s access to water was essential for the survival of villages. Women, tasked with this responsibility, discovered innovative ways to transport (bear) water more efficiently.
The Waterbearer represents the importance of technological breakthroughs to the core well-being of our human existence. (Water is a core element of our well-being.) Thus, now with this Pluto transition, we might view this symbol as a reminder of how technological advancements (fire, the wheel, the automobile, the airplane, the computer, the cellphone) have benefitted the human race. Currently, on many fronts we are navigating big changes. Relative to our finances (yet another core element relative to our well-being) crypto currency looms large. It is a sign of big changes in the financial universe.
Aquarius, an Air Sign, An Energy that Favors Ideas and Education Recommended: The upcoming Christeen Skinner lecture “Navigating the Financial Universe” (1/28/24 a Sunday afternoon 3:00- 5:30, Palm Beach Gardens)
The air sign, inspired energy of Aquarius will influence us to break free from traditional constraints and so we are empowered to embrace even seemingly unconventional ideas. The transition of Pluto from Capricorn to Aquarius invites reflection on the changing dynamics in our world. An excellent opportunity to reflect on and gain new skills for managing the changing universe and your finances is to attend and learn from a cosmic expert. Details on attending this very special lecture (don’t wait it is happening soon) are shared in this newsletter. If you want to be financially savvy in the coming years: Don’t miss this event!
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You Are Invited!
New Years Transmutational Breathwork and Sound Bath this Saturday, January 20th, 2024
2-5pm!
Join Sari Terrusa and Tasha Shirley as they lead you through a transformational experience to activate your goals for 2024! This journey of breathwork and sound healing will connect you to your inner creative and intuitive activations. Create a deeper heart connection and join this amazing opportunity! Investment is $85! Reserve you space HERE
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Frequency 432 Healing + Wellness on Social! | |
Come with us on our 7 week Chakra Journey on Instagram and Facebook!
Curious about the Chakras and what they are? Join us weekly as we take you through understanding each one and healing tips and practices to connect more intentionally to raise your vibration in these energy centers!
Not currently following us on Social Media? Click the icons below to learn more about interesting topics and self care routines for healthy lifestyles to raise your frequency!
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You Are Invited!
Join us on January 28th for a presentation and Q&A session with Christine Skinner! Christine will be visiting South Florida from the UK and bringing us her knowledge of over 30 years practicing astrology - with a focus on finance & business and will be sharing what the financial future may hold in store for us!
She is also author of several books including, "Navigating Your Financial Universe" and forecasted the global financial crisis in her original work published in 2004, which builds on her reputation for successful financial forecasting. She identifies periods of challenge and suggests ways in which these might be negotiated. Using her experience working with clients, entrepreneurs, traders, and investors, she acknowledges the needs and behavioral patterns of different generations―building financial confidence in the reader.
Limited Space is Available, so don't delay! RSVP Today!
https://frequency432.us/event/navigating-our-financial-universe/
$25 Early Bird Pricing (through 1/20)
$33 Ticket (after 1/20)
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With Love & Gratitude,
XO
Jill & Team!
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