Manjit Singh's ClientLine Online Newsletter

Manjit Singh CPA P.C.

CERTIFIED PUBLIC ACCOUNTANTS

Tax planners not just tax preparers®

2841 Hartland Road, Suite 307

Falls Church, VA 22043

Phone: 703-280-5656

Fax: 703-280-5666

703-207-4502

Email: msingh@mscpa.us

Email: manny@manjitsinghcpa.com

Website: www.mscpa.us

February 2023

2023 Tax Brackets and Other Adjustments

The IRS made sizable adjustments to several tax limits in response to the high inflation levels from 2022. Taxpayers will see increases in tax brackets, the standard deduction, and the gift tax exclusion for 2023.

Making Estimated Payments Each Quarter

Since the U.S. uses a pay-as-you-go tax system, you must pay income taxes as you earn money. Making estimated payments throughout the year helps you avoid paying penalties.

Fractional Executives for Small Businesses

Outsourcing leadership roles can offer your company insights without the price tag of a full-time employee.

Retiring in a Slowing Economy

A well-thought-out plan for a comfortable retirement is important, even more so in a tough economy.

401(k) Loans

Although your plan may allow you to borrow from your account, you should be aware of what it means to take out a loan from your 401(k) account.

February 2023 Client Profile

Chris was 39 years old when he inherited a traditional IRA from his grandfather. Chris is not planning to retire anytime soon, so he’s unsure what to do with the account. What are his options?

February 2023 Q and A

Let's talk about accepting credit card payments for customers.

A Look At Stock Market Returns Over 30 Years

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