Fact Sheet:

2O2O COLA and Tax Adjustments Recently Announced

The Important Changes You and Your Clients Need to Know

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The Social Security Administration and the IRS recently announced cost of living (COLA) and inflation adjustments for 2020.

A Better Way to Retire With Income Allocation

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Included in this summary:

Social Security

  • Changes to Benefits
  • New Earnings Limits

Tax Adjustments

  • Standard Deduction
  • Marginal Income Tax Rate
  • Federal Estate & Gift Tax Exemption
  • Maximum IRA Contributions

TruChoice Financial Group and its representatives do not give legal or tax advice. Encourage your clients to consult their tax advisor or attorney.

This material is not approved, produced, or endorsed by the U.S. Government.

TC191271 (12/19) | For Financial Professional use only - not for use with the general public.