by Brian Hare, CPA, CGMA | Nov 24, 2021 | Business
In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights: Elective deferrals. The annual limit on elective deferrals (employee contributions) will increase...
by Paula Kennedy, EA | Jun 30, 2021 | Tax
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns...
by Kaitria LaFleure | Feb 25, 2021 | Business
If your business sponsors a 401k plan, you might someday consider adding designated Roth contributions. Here are some factors to explore when deciding whether such a feature would make sense for your company and its employees. Key differences Roth contributions differ...
by Brian Hare, CPA, CGMA | Dec 7, 2020 | Business
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a substantial sum of money. If you’re not already contributing the...
