401 (k) Plan Catch-Up Contributions
How big is your retirement nest egg? Too often, people sacrifice retirement savings to afford a bigger home, cover emergency expenses or pay for their children's education. But time [...]
How to Trim Your 2024 Taxes by Contributing to a Retirement Plan in 2025
Many types of retirement plans allow contributions to be made after year end. And last-minute retirement contributions can be a powerful strategy: You can lower your 2024 taxes while [...]
Taming the Tax Tangle If You’re Retiring Soon
Taming the tax tangle if you’re retiring soon Retirement is often viewed as an opportunity to travel, spend time with family or simply enjoy the fruits of a long [...]
Maximize Your 401(k) in 2025: Smart Strategies for a Secure Retirement
Saving for retirement is a crucial financial goal and a 401(k) plan is one of the most effective tools for achieving it. If your employer offers a 401(k) or [...]
The Social Security “Earnings Test” Will Increase in 2025
Many retirees collecting Social Security benefits go back to work part time. If they haven't reached full retirement age and they earn over a certain amount, they'll have a [...]
Ready, Set, Retire
Have you given any thought to your retirement? Even if you don't expect to retire anytime soon, the earlier you start planning how you'll transition from work to retirement, the [...]
Update on Retirement Account Required Minimum Distributions
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. [...]
Retirement Account Catch-up Contributions Can Add Up
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). Is it worth the trouble? Yes! Here are the rules of [...]
Four Tax Challenges You May Encounter If You’re Retiring Soon
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of [...]
Two Important Tax Deadlines Are Coming Up — and They Don’t Involve Filing Your 2022 Tax Return
April 18 is the deadline for filing your 2022 tax return. But a couple of other tax deadlines are coming up in April and they’re important for certain taxpayers: [...]
There Still May Be Time to Make An IRA Contribution For Last Year
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re [...]
Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s [...]
SECURE 2.0 Law May Make You More Secure in Retirement
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every [...]
Is it a good time for a Roth conversion?
The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable [...]
Smooth Sailing: Tips to Speed Processing and Avoid Hassles This Tax Season
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid [...]