Tag: 401(k) contribution

Tagged: 401(k) contribution

Catch-up retirement plan contributions can be particularly advantageous post-TCJA

November 20, 2018 Tax Department Tax Bites 401(k) contribution, catch-up contribution, retirement plan contributions, retirement plans, 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

September 25, 2015 September 24, 2015 Tax Department Tax Bites 401(k) contribution, contributions pretax, tax, tax-deferred compounding

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[ … ]