Category Archives: retirement

Are Your Social Security Payments Taxable?

They may be. The IRS’s rules for taxing Social Security benefits could require some studying on your part. If you’ve received Social Security benefits for more than a year, you probably already know the answer to this question. But if … Continue reading

Posted in Filing Taxes, Funding for Medicare and Social Security, retirement, save on taxes, taxes, Uncategorized | Tagged , , , | Leave a comment

Complete these retirement plan steps before year-end

December 31 is the last day you can benefit from certain retirement tax breaks. For example, if you haven’t put the maximum amount allowed in your 401(k) – $18,000 in 2016 – increasing your contributions can save you money. If … Continue reading

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New relief for 60-day rollover errors

One of the pitfalls of receiving a distribution from your IRA with the intention of “rolling it over,” or depositing it into another IRA or retirement plan, is the 60-day rule. Under the rule, you’re required to complete the rollover … Continue reading

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Form 5500 due date is approaching

August 1, 2016 is the deadline for filing Form 5500 for retirement or employee benefit plans on a calendar year. (The usual due date of July 31, 2016, is a Sunday.) There are two updates to be aware of. First, … Continue reading

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Retirement Plans for Sole Proprietors

Granted, retirement plans are usually easier if you’re a full-time employee. But if you’re self-employed, you can still contribute to a retirement plan. It’s expensive to be a sole proprietor. If you’ve been one for any length of time, you … Continue reading

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Be aware of these four IRA rules

If you have an individual retirement account, you’re aware of how complicated the rules can get. Here are four to remember as you prepare your 2015 federal income tax return. Read more. If you have an individual retirement account, you’re … Continue reading

Posted in retirement, Tax Return, Uncategorized | Tagged , , , , | 2 Comments