New Cost of Living Adjustments for 2019

The new Cost-Of-Living Adjustment (COLA) increases have come out for the year 2019. In the link below we have comparison of the 2019 and 2018 COLA dollar limitations on benefits and contributions. COLA increases 2019-2018 If you have any questions, please contact Lori Plescia, CFP®, C

How to Avoid RMD’s of your Roth 401(k)

In a Qualified 401(k) plan, a participant must begin Required Minimum Distributions (RMD’s) in the year he or she reaches age 70 1/2. This rule also applies to Pre-tax IRA’s. However, there is an exception to this rule when it comes to Roth IRA’s. This provides for a

The Clock is Ticking!

Set up a New Safe Harbor 401(k) Plan by October 1! Business owners and other Highly Compensated Employees (HCE’s) really benefit from a Safe Harbor 401(k) Plan. They can maximize their deferral contributions to the plan regardless of the level of participation by the Non-HCER

Required Minimum Distributions to Charity

If you are over age 70 1/2, you may be able to reduce your adjusted gross income (AGI) and receive a tax deduction for donating to your favorite charity. Generally, taking a required minimum distribution (RMD) from your traditional IRA increases your taxable income. However, you can c

Is A Cash Balance Plan Right For You & Your Company

Do you own a business? Do you currently offer a 401(k) Profit Sharing Plan? Do you wish you could put away more tax deferred dollars for retirement? If your answer is “yes” to these questions, you may consider a Cash Balance Plan for your company. The IRS limits the amount