How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
Tag: 401(k) contribution
Maximize your 401(k) plan to save for retirement
Have you been contributing enough to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the recently announced limits for 2021.
Numerous tax limits affecting businesses have increased for 2020
How much can your employees contribute to 401(k) plans this year? How much do employees have to earn in 2020 before they can stop paying Social Security tax? Here are the answers to these and other questions about annual tax-related inflation adjustments affecting businesses.
Catch-up retirement plan contributions can be particularly advantageous post-TCJA
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions[ … ]
Why you should contribute more to your 401(k) in 2015
Contributing to a traditional employer-sponsored defined contribution plan, such as a 401(k), 403(b) or 457 plan, offers many benefits: Contributions are pretax, reducing your modified adjusted gross income (MAGI), which can also help you reduce or avoid exposure to the 3.8% net investment income tax. Plan assets can grow tax-deferred — meaning you pay no[ … ]
