Tag Archives: retirement contributions

Retirement Contribution Limits Announced for 2019

bigstock-Couples-At-The-Beach-Holding-H-4134051 (1)Dollar limitations for pension plans and other retirement-related items for 2019 are as follows:

In general, income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs, and to claim the saver’s credit all increased for 2019. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan also increases from $18,500 to $19,000. Contribution limits for SIMPLE retirement accounts for self-employed persons increase in 2019 as well – from $12,500 to $13,000. Continue reading

2017 Recap of Tax Provisions for Individuals

Wooden cubes with word "TAX" and calculator on backgroundMany of the tax changes affecting individuals and businesses for 2017 were related to the Protecting Americans from Tax Hikes Act of 2015 (PATH) that modified or made permanent numerous tax breaks (the so-called “tax extenders”). To further complicate matters, some provisions were only extended through 2016 and are set to expire at the end of this year while others were extended through 2019. With that in mind, here’s what individuals and families need to know about tax provisions for 2017. Continue reading

Tax-Saving Strategies that Reduce your Tax Liability

Dollar bills in glass jar on rustic table. Saving money concept.If you’re looking to save money on your taxes this year, consider using one or more of these tax-saving strategies to reduce your income, lower your tax bracket, and minimize your tax bill. Continue reading

SIMPLE IRA Plans for Small Business

Portrait Of Male Bookshop Owner Outside StoreOf all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. The catch is that you’ll need to set it up by October 1st. Here’s what you need to know. Continue reading

It’s Not Too Late to Make a 2016 IRA Contribution

bigstock--155898923.jpgIf you haven’t contributed funds to an Individual Retirement Arrangement (IRA) for tax year 2016, or if you’ve put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 18th due date, not including extensions. Continue reading

Tax Changes for 2017: A Checklist

Order Checklist criteria Clipboard Questionnaire Form ListWelcome, 2017! As the New Year rolls around, it’s always a sure bet that there will be changes to current tax law and 2017 is no different. From health savings accounts to tax rate schedules and standard deductions, here’s a checklist of tax changes from your accountant¬†to help you plan the year ahead. Continue reading

Special Tax Breaks for U. S. Armed Forces

bigstock2-military-forces-military-serv-136447196Military personnel and their families face unique life challenges with their duties, expenses and transitions. As such, active members of the U.S. Armed Forces should be aware of all the special tax benefits that are available to them. Here are 10 of them: Continue reading

Tax Changes for 2016: A Checklist

accountantWelcome, 2016! ¬†As the New Year rolls around, it’s always a sure bet that there will be changes to current tax law and 2016 is no different. From health savings accounts to retirement contributions and standard deductions, here’s a checklist of tax changes to help you plan the year ahead. Continue reading