The rules of hardship withdrawals
Suppose you need to borrow money in a hurry and your only obvious option is a bank loan with sky-high interest — if you can even obtain one. Consider an […]
Why it’s a Good Idea for Employers to Encourage 401(k) Rollovers
Many people collect “orphan” 401(k) plan balances as they move from job to job. Why should employers care? Helping new employees roll over their accounts from former employers can be […]
Unexpected Retirement Plan Disqualification Can Trigger Serious Tax Problems
It’s not unusual for the IRS to conduct audits of qualified employee benefit plans, including 401(k)s. Plan sponsors are expected to stay in compliance with numerous, frequently changing federal laws […]
Review Your Retirement Plan Contributions for the New Year
You may have already heard the news: Many tax numbers that are adjusted annually for inflation did not change for 2016. For example, the 401(k) contribution limit remains at $18,000 […]
Protect Your Retirement Assets from Creditors
Most Americans count on their retirement savings being there when they need them. But bankruptcy or an adverse judgment in a lawsuit could threaten your retirement security. That’s why it’s […]
Marriage Matters In The World Of Taxes
What’s your marital status? Just beginning? Just recognized? Just ending? As your relationships change, so do certain federal tax rules governing your income tax return. For example, your filing status […]
Summertime: Time For A Second Quarter Payroll Check-Up
As spring turns to summer, another payroll quarter is ending. Here are items to check off your to-do list. Confirm your federal tax deposits. Do you outsource the preparation of any […]
It’s Not Too Late To Make A 2013 Contribution To An IRA
Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit […]
Avoid The Year-End Vacation-Time Scramble
Every December, are your employees scrambling to use up their vacation time because of limits on what they can roll over to the new year? Or do you allow rollovers […]
Why You Should Max Out Your 2013 401(k) Contribution
Contributing the maximum you’re allowed to an employer-sponsored defined contribution plan, such as a 401(k), 403(b) or 457 plan, is likely a smart move: Contributions are typically pretax, reducing your […]