Traditional economic models are based on the premise that people make rational decisions to maximize economic and financial benefits. In reality, most humans don't make decisions like robots. While logic...
529 plans were created in 1996 to give families a tax-advantaged way to save for college. Roth IRAs were created a year later to give people another tax-advantaged way to...
2024 and 2023 contribution rates for employer and individual retirement accounts, including income phase-outs for IRA deductions and ROTH IRA contributions. Employee/individual contribution limits 1 Must aggregate employee contributions to all 401(k), 403(b),...
Roth 401(k) plans can offer an ideal opportunity to build a source of tax-free retirement income. There are no income restrictions to participate, they have much higher contribution limits than...
To say the economy has been uneven over the past few years is an understatement. Amid these bumpy economic times, why buy life insurance? Here are a few reasons. Protection for...
Links to all of the key numbers for your 2023 planning. Individual Income Tax Planning Alternative Minimum Tax (AMT), child tax credit, earned income tax credit, itemized deductions, kiddie tax, personal exemptions,...
2023 and 2022 contribution rates for employer and individual retirement accounts, including income phase-outs for IRA deductions and ROTH IRA contributions. Employee/individual contribution limits Elective deferral limits 2022 2023 401(k) plans, 403(b) plans, 457(b) plans,...
Links to all of the key numbers for your 2022 planning. Individual Income Tax Planning Alternative Minimum Tax (AMT), child tax credit, earned income tax credit, itemized deductions, kiddie tax, personal exemptions,...
Employee/individual contribution limits Elective deferral limits 2021 2022 401(k) plans, 403(b) plans, 457(b) plans, and SAR-SEPs 1 [Includes Roth 401(k) and Roth 403(b) contributions] Lesser of $19,500 or 100% of participant's compensation Lesser of $20,500 or 100% of...
Among the many provisions in the multi-trillion-dollar legislative package being debated in Congress is a provision that would eliminate a strategy that allows high-income investors to pursue tax-free retirement income:...