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As you navigate this new business environment, leaders need the right guidance and direction to move forward. Tap into our customized tax, audit, accounting and business advisory solutions to help you recover from disruption and grow stronger. Contact a PBMares advisor today.

RECENT INSIGHTS:

Qualified Disaster Relief Through Charitable Organizations

October 11, 2024|

Public charities, private foundations, and donor advised funds can provide qualified disaster relief assistance to victims of qualified disasters, including individuals and small businesses.

  • Higher Catch-Up Contribution Limit coming in 2025

Higher Catch-Up Contribution Limit Coming in 2025

October 7, 2024|

Section 109 of SECURE 2.0 provided for a higher catch-up contribution limit beginning in 2025 for participants in a 401(k) or 403(b) plan for a specific population of employees. The current catch-up contribution limit is $7,500. The higher catch-up contribution will be the greater of $10,000 or 150% of the regular catch-up limit in 2024; $11,250 for 2025. This higher catch-up limit will be indexed annually for inflation beginning in 2026.

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