The “mega Roth” strategy, a new approach to retirement saving, is a way for some retirement plan participants to maximize their savings using Roth IRAs or retirement plan designated Roth accounts.
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Quick Reference Tool: Current Roth IRA contribution eligibility phase-out ranges
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Quick Reference Tool: Current Traditional IRA deductibility phase-out ranges
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In response to an executive order by the President to expand access to retirement plans, the DOL recently proposed regulations to allow employers to form association retirement plans, or MEPs.
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The IRS recently proposed amendments to hardship distribution regulations and is requesting public comments by January 14, 2019.
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What does it mean when an outstanding loan amount is offset? What are the tax consequences for the plan participant? What is the timeframe for rolling over a loan offset amount and how should it be reported?
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Can HSA debit cards be issued to individuals other than the HSA owner? Are there issues that financial organizations should be aware of when allowing authorized users?
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One of the biggest challenges “gig workers” face is a lack of access to an employer-sponsored retirement plan and the employer contributions that often go with it. Fortunately, there are four retirement savings alternatives ideal for gig workers.
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Research shows that HSAs will continue to see unprecedented growth, proving them to be a successful product offering for most financial organizations.
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With the growing number of baby boomer Traditional IRA owners turning age 70½ and older, it’s time to refine your RMD procedures and ensure that you and your IRA clients understand the RMD rules.
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Don’t be caught off guard with these tax reform changes from the Tax Cuts and Jobs Act and Bipartisan Budget Act that take effect January 1, 2019.
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The IRS recently released the 2019 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2019.
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October 15 has come and gone—and with it, the ability for IRA owners to correct 2017 IRA excess contributions without penalty. Now they must pay the penalty and still correct the excess using one of two options.
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The House of Representatives has passed the Protecting Family and Small Business Tax Cuts Act of 2018. This is the third and final bill in the Tax Reform 2.0 package considered in the House.
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On September 27, 2018, the House of Representatives passed the Family Savings Act of 2018, legislation that would make many significant changes to retirement and other tax-favored savings arrangements. Passage by the Senate is uncertain.
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As the end of another plan year approaches, it may be time for an employer to evaluate whether current plan provisions still fit the employer’s situation and objectives. After giving thoughtful consideration to several factors, the employer may want to amend for certain plan design changes.
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Most small business owners and self-employed individuals want an employer-sponsored retirement plan that’s affordable and easy to administer. Find out how SEP, SIMPLE IRA, and owner-only 401(k) plans stack up.
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HSAs and health FSAs are both used to save and pay for qualified medical expenses with the potential benefit of tax-free distributions. So how do they actually differ from each other?
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