Beginning January 1, 2026, certain higher‑earning employees who make catch‑up contributions to employer‑sponsored retirement plans (e.g., 401(k), 403(b), governmental 457(b)) must make those catch‑up contributions on a Roth (after‑tax) basis. This requirement comes from SECURE 2.0 Act §603 and is now fully clarified through final IRS regulations issued in September 2025.
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The 2025 tax filing season reflects one of the most significant sets of changes in recent years following enactment of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act. While the law permanently extended many provisions of the Tax Cuts and Jobs Act (TCJA), it also introduced new deductions and reporting requirements that increase complexity for organizations and their employees.
As the new year begins, nonprofit organizations, governmental entities, employee benefit plans, and the businesses and individuals that support them throughout South Florida are navigating a shifting landscape of accounting standards, regulatory priorities, and tax planning considerations. Proactive awareness and early preparation can help minimize surprises, strengthen compliance, and create meaningful efficiencies in the months ahead.
Just in time for Black History Month, Latriece Watkins, a longtime Walmart executive, has been named president and chief executive officer of Sam’s Club, effective Feb. 1, in a leadership reshuffle announced by Walmart’s board. The promotion places Watkins, a 28-year veteran of the company, at the helm of one of the nation’s biggest membership retail chains.
On behalf of the nearly 9 million people who are now in default on their student loans, a coalition of advocates from consumer, civil rights, and education organizations are appealing to the federal Education Department to halt its plans to begin garnishing borrower wages this month. Default status connotes borrowers are 270 days or more behind on their payments.
BLACKPRESSUSA NEWSWIRE — The rise in unemployment has been uneven, with Black workers experiencing some of the most severe impacts. Black men ages 20 and older saw their unemployment rate jump from 6.6 percent in September to 7.5 percent in November. Black women ages 20 and older recorded an unemployment rate of 7.1 percent in November, slightly lower than September’s 7.5 percent but still higher than any other racial or ethnic group.
BLACKPRESSUSA NEWSWIRE — Federal tax refunds are positioned for a sharp rise next year, with new projections showing that the average payment could increase by about $1,000 for millions of Americans.
Congress is actively working on groundbreaking legislation that would provide much needed regulatory clarity. The Digital Assets Market Structure legislation being developed by the U.S. Senate Agriculture and Banking committees can be better positioned to foster economic growth, promote financial education, and support guard rails for the early and vibrant segments of Americans who actively leverage digital assets.
The holidays are coming, and many financially strapped families are considering how to responsibly manage their use of credit while still enjoying seasonal gatherings, presents, feasts and toasts of glad tidings for all. The yuletide season is also a time to especially avoid predatory lenders that offer workers quick access to cash via loans with triple-digit interest rates and hidden fees that can wreck their finances for months.
VA mortgage loans are fixed-rate loans guaranteed by the U.S. Department of Veteran Affairs. VA guaranteed loans are made by private lenders like SouthState to eligible veterans and service members for the purchase or refinancing of their primary home. We are fortunately able to do this with competitive interest rates and no money down, making homeownership more attainable to those who have served our nation.