The IRS has announced the annual limits that will apply to qualified retirement plans in 2020. The key 2020 limits, as compared to the 2019 limits, are: For 401(k) plans, the maximum deferral limit increases by $500 to $19,500...
Read MoreAs Congress negotiated the legislation that ended up as The Tax Cut and Jobs Act (“Jobs Act”) and the Bipartisan Budget Act of 2018 (“Budget Act”), it considered significant changes to employer based retirement plan rules. ...
Read MoreBy Jordan Schreier A taxpayer who receives a distribution from a qualified retirement plan or IRA can continue the tax deferred status of the amounts distributed by rolling over the distribution to another qualified plan or IRA...
Read MoreBy Robin Miskell Retirement accounts are an excellent method for saving for retirement because the assets accumulate income tax free and contributions reduce your taxable income. However, many times you might have an emergency...
Read MoreBy Deborah Grace The Department of Labor (“DOL”) recently issued a new rule setting forth a frame work by which a plan sponsor or an IRA owner can ascertain whether a person providing investment advice for a fee is a fiduciary....
Read MoreBy Jordan Schreier With one month remaining until the April 15, 2016 tax filing deadline, low to middle income taxpayers should remember to take advantage of the federal Retirement Savings Contribution Credit (Saver’s Tax...
Read MoreBy Jeffrey L. GehringRetirement accounts comprise a significant part of most people’s net worth. As many people know, when distributions are made from a retirement account to a beneficiary following the owner’s death, the...
Read MoreBy Deborah Grace It is important for businesses that have common ownership to determine if the entities are members of a controlled group as defined by Code Sections 414(b) and (c). Separate legal entities that are members of a...
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