You should become familiar with the terms of your employer’s 401(k) plan to understand your particular withdrawal rights (more…)
The end of the year is a good time to review your personal finances. What are your financial, business or life priorities for 2012? Try to specify the goals you want to accomplish. Think about the consistent investing, saving or budgeting methods [more...]
IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2012 remains at $5,000 (or 100% of your earned income, if less), unchanged from 2011. The maximum catch-up contribution for those age 50 or older [more...]
A new comparability plan is a qualified profit-sharing plan that can have more substantial contributions for favored employees (usually higher-paid workers and key employees). With this type of plan, contributions are not allocated strictly as a percentage of compensation. Instead, by dividing [more...]
With the current financial situation, you may be tempted to tap your 401(k). But before you decide to take a plan loan, be sure you understand the financial impact. It’s not as simple as you think. The basics of borrowing A 401(k) [more...]
Apr 052011
2011 Key Numbers Individual Income Tax Planning Alternative Minimum Tax (AMT), child tax credit, earned income tax credit, itemized deductions, kiddie tax, personal exemptions, and more. More Details 2010 Tax Rates Tax rates for all filing statuses. More Details 2011 Tax Rates [more...]
If you’d like a retirement plan that guarantees a specified benefit level at retirement regardless of investment results, you may want to consider a defined benefit pension plan. A defined benefit plan is a qualified employer-sponsored retirement plan that is funded solely [more...]
Apr 042011
The Roth 401(k) Some employers offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you’re lucky enough to work for an employer who offers this option, Roth contributions could play an important role in maximizing your retirement income. What [more...]
Retirement Plans for Small Businesses If you’re self-employed or own a small business and you haven’t established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. And you’ll be [more...]
