One of the fallouts of the COVID-19 pandemic is that millions of people have dropped out of the workforce. While they remain unemployed, they will have lost the opportunity to build up their retirement nest egg through their employers’ retirement…
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For some time, there have been lawmakers who have expressed their displeasure with the so-called stretch IRAs.These IRAs have permitted certain beneficiaries, such as a young child or a grandchild, to use the Inherited IRA RMD rules to extend the…
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Have you been like so many other taxpayers and procrastinated about setting up a retirement plan for your small business? Here’s why you shouldn’t wait any longer. You are paying income taxes that could easily be avoided. (more…)
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As has become usual practice, Congress passed some meaningful tax legislation as it recessed for the holidays. The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) made many changes to how you save money for your…
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Have you been ignoring your future retirement needs? This tends to happen when people are young; because retirement is far in the future, they believe that they have plenty of time to save for it. (more…)
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As the economy improves more small business owners find they are able to contribute to a retirement plan but are unsure what plan options are available to them. A Simplified Employee Pension (SEP) plan may be the answer to a self-employed…
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Taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that that transaction may mean a tax impact when they file their return. Here are 10…
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