How do you multiply your net worth? Let the government help with SEP IRA and the solo 401(k) retirement plans. First Things First Here’s how: with both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement • creates tax...
Last December, the Setting Every Community Up for Retirement Enhancement (SECURE) Act became law. The SECURE Act was intended mainly to expand opportunities for individuals to increase their retirement savings and to simplify the administration of retirement plans....
New IRS guidance expands the possibilities for what is an adverse COVID-19 impact on you for purposes of taking up to $100,000 out of your retirement accounts and repaying it without penalties. First, let’s look at the rules as they existed before this new IRS...
The Setting Every Community Up for Retirement Enhancement (SECURE) Act changed the landscape for retirement and savings planning. Here are eight important reminders about this new law: 1. You can’t use contributions made in 2020 but applied to 2019 for any...
Talk to a business owner who has been in business for a while and he or she will tell you to make sure that you put a retirement plan in place. When you are starting out and have modest income, the Savings Incentive Match Plan for Employees (SIMPLE) IRA can be the...
