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Rumbles over tax plans; inflation adjusments for 2013 retirement limits

The presidential election is almost here, so that topic naturally was covered last week at my other tax blog.

Bankrate Taxes Blog iconAs expected, the second meeting between President Obama and his Republican challenger Mitt Romney had the feel of boxing match.

That meant there was some fancy footwork as tax plans were discussed.

But Romney and his campaign surrogates also have had to rumble with skeptics questioning the studies that support the GOP candidate's proposal.

Meanwhile, despite the importance of the ever-nearer election and what it might mean to our taxes, regular life goes on. And for those of us hoping to retire sooner rather than later, that means saving for retirement.

Thank goodness there are tax benefits connected with retirement plans. And the Internal Revenue Service last week released 2013 inflation adjustments for several retirement plans, from workplace 401(k)s to IRAs and more.

You can always check out my other tax posts over at Bankrate Taxes Blog, usually each Tuesday and Thursday. If you happen to miss them on those days, look for a wrap-up here the following weekend.

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