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2020 Inflation Adjustments, Retirement Plan Contributions and Tax Rate Tables

2020 Inflation Adjustments, Retirement Plan Contributions and Tax Rate Tables

The IRS on Wednesday issued the 2020 retirement plan contribution limits, annual inflation adjustments for many tax provisions as well as the 2020 tax rate tables for individuals and estates and trusts. These adjusted amounts will be used to prepare tax year 2020 returns in 2021.

Learn More:

Journal of Accountancy – Retirement plan contribution limits increase for 2020

Journal of Accountancy – IRS posts 2020 inflation adjustments and tax tables

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About Robert Lawson

DIRECTOR OF WEALTH ADVISORS

Bob Lawson serves as a Senior Wealth Advisor at Vector Wealth Management. He is a member of Vector’s Investment Committee, which is responsible for security selection, asset allocation, and investment due diligence.

Bob joined Vector Wealth Management in 2016. Prior to joining Vector, Bob worked in the banking sector as a senior wealth advisor. Bob has been in the financial services industry since 2000.

Bob earned a Master of Business Administration from the University of St. Thomas. He also holds a Bachelor of Science degree in Accounting from the University of Minnesota – Carlson School of Management.

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Vector Wealth Management is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

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Robert Lawson

About Robert Lawson

DIRECTOR OF WEALTH ADVISORSBob Lawson serves as a Senior Wealth Advisor at Vector Wealth Management. He is a member of Vector’s Investment Committee, which is responsible for security selection, asset allocation, and investment due diligence.Bob joined Vector Wealth Management in 2016. Prior to joining Vector, Bob worked in the banking sector as a senior wealth advisor. Bob has been in the financial services industry since 2000.Bob earned a Master of Business Administration from the University of St. Thomas. He also holds a Bachelor of Science degree in Accounting from the University of Minnesota – Carlson School of Management.