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Annual contribution limits for 401(k) plans have been raised to $18,500 this year, with catch-up contribution limits capped at $6,000.
January 16 -
Retirees will have to alter the way they file taxes under the new tax law, including making two years' worth of charitable donations every other year to exceed the standard deduction and itemize.
January 11 -
The law allows clients the ability to make tax-free withdrawals for elementary and secondary school expenses.
January 9 -
One strategy to enhance financial prospects is to get a part-time job via the gig economy.
January 3 -
Missing required 401(k) minimum distributions are subject to a penalty equal to half the amount that should have been taken.
December 22 -
Although the current year has been good for participants, many workers are not investing in a retirement plan.
December 21 -
While clients cannot determine their health care expenses and taxes in retirement, they can improve their prospects by minimizing investment fees and diversifying their portfolios.
December 8 -
Those who leave the workforce can maximize the tax benefits by donating a portion of their IRA assets directly through a qualified charitable distribution
November 22 -
The tax plan would make itemized deductions less valuable so some retirees would lose a deduction that covers payments for nursing homes, assisted living or inpatient hospital care.
November 9 -
Clients who intend to name minor children as beneficiaries of their IRAs should take taxes into consideration before making a decision.
November 2