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"How can I arrange for the transfer of my business when I retire and yet be able to keep peace in the family?" That's a common question asked by owners of successful businesses when the time comes to turn over the reins to the next generation.
For 2008, personal exemptions and standard deductions will rise, tax brackets will widen and workers will be able to save more for retirement, thanks to inflation adjustments announced today by the Internal Revenue Service.
The Internal Revenue Service today announced cost of living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2008. Section 415 of the Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans.
"Best of the Best firms represent the top 25 in the nation who are pushing the right buttons and pulling the right levers to move the entire firm to a recognized level of excellence," said Michael Platt, IPA publisher.
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