2015 Plan Limit Increases

The following plan limits are increased effective Jan. 1, 2015: • Catch-up contributions. The dollar limit under Code Sec. 414(v)(2)(B)(i) for catch-up contributions to an applicable employer plan other than a plan described in Code Sec. 401(k)(11) (SIMPLE 401(k) plan) or Code Sec. 40

Start a Safe Harbor 401(k) plan for 2013: Deadline October 1st!

Is it time to Start a 401(k) plan for your business? Starting a new 401(k) retirement plan is a perfect way to save for retirement as well as reducing your tax liability. With a Safe Harbor 401(k) Plan, owners and highly compensated employees can maximize their contributions even if o

Roth IRA Strategy for High Earners

Have you been locked out of contributing to a Roth individual retirement account (IRA) by the tax law’s income limits? There may be a way you can get around those limits and invest in a Roth IRA. Why Consider a Roth IRA? Unlike a traditional IRA, a Roth IRA offers the potential for ta

Education Expenses — Are They Deductible?

Given the high cost of higher education, this issue is more than academic — significant tax dollars may be at stake. Job-related Education Your cost of job-related education is deductible if the education: Maintains or improves skills related to your existing job, trade, or business o

Don’t Retire Without and Income Strategy

Once you retire, you’ll be ready to start using those savings you’ve worked so hard to accumulate. Adopting a random approach of simply withdrawing the amount you need for the year’s living expenses is risky. It’s far better to have a plan for making your money last. Here are some pot