After-tax contributions don’t save you money on your taxes the way pre-tax contributions to your 401(k) do, but they can make good sense for some people. Here is why the after-tax 401(k) limits are so significant in 2022.
Unlike your 401(k), self-directed IRA's contain the flexibility of holding investments in things like real estate, business interests, commercial properties, hotels, etc. But is owned a property inside an IRA a good idea? What are the pros and cons with this type of ownership? What are some things to be aware of before going down this path?
Did you know you can contribute up to $58,000 to your 401(k) plan? The key is "after-tax contributions". What are they? How do they work? Should you consider making them?
Planning for retirement is too important to leave to chance. Life expectancy is increasing with every decade, which is great news. However, it also means that preparing for retirement needs a fresh perspective. Many retirees, even those who have consistently saved toward retirement over their lifetime, may realize they don’t have enough money saved to retire comfortably. If 401(k)s, pensions, and social security benefits aren’t quite providing the standard of living that many expect when they transition into retirement, there is a tool worth considering. Annuities.
President-Elect Joe Biden has proposed a 401(k) flat tax credit that may make you rethink how you save for retirement. While nothing has been officially passed yet, many people are wondering how his overhaul of 401(k) tax breaks will impact them personally if and when it becomes a reality. Here's what you need to know.
A Presidential change brings uncertainty in the world of estate planning. Here's what we know about President Elect Biden's proposed tax plan and how it could affect estate taxes!