…significant company stock within your employer-sponsored retirement plan, you may be eligible to diversify your investments without triggering a taxable event by completing an in-service rollover to an IRA. Exchange…
…tax-advantaged vehicle to serve as this dedicated account. Just as an Individual Retirement Account (IRA) provides tax benefits for retirement savings, 529 plans can be a tax-smart way to save…
…Tax-free contributions Similar to contributions to a traditional 401(k) or IRA, contributions to HSAs are made with pre-tax dollars, which reduces your taxable income in the year contributions are made….
…of your IRA required minimum distribution (RMD) to a charity. Many retirees find that having their IRA RMD paid directly to themselves increases their taxable income enough that they fall…
…assets so they are working as hard for you as possible. Bucket #2 – Retirement accounts Retirement accounts, such as 401(k)s, SEP plans, IRAs and Simple IRAs, provide a tax-deductible…
…set up an individual retirement account (IRA) and taxable investment account. These will work alongside your employer-sponsored retirement plan. For those who play basketball, think of this as your triple…
…lifetime estate tax exclusion amount. Increase your retirement plan contributions. If you can, max out your 401k and IRA contributions before the end of the year. The 2022 401k contribution…
…where your net worth is made up of stock in your company, some personal savings, your home, an IRA or 401(k) and maybe the real estate where your business is…
Reasons to Consider a QCD If you’ve saved in a pre-tax retirement account, such as a traditional IRA or 401(k), you’ll need to begin taking required minimum distributions (RMDs) once…
…adjusted gross income (AGI), as this number is key in determining what tax breaks and IRA contributions you may be eligible for. The IRS defines AGI as “gross income minus…
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