TAG: 401(k)

How much do you know about these popular 401(k) alternatives?

June 4, 2018By

Traditional 401(k)s may not be effective because the IRS’s “top heavy testing” rules may disqualify contributions from management and ownership. There are alternatives to traditional 401(k)s that will allow all employees and owners to contribute, giving the participants tax-deferred compensation, as well as allowing the company a tax deduction without the burdensome income testing that usually hijacks the good intentions... read more

Web Extra: Taxes and retirement planning

December 1, 2015By

In addition to other tax-minimizing strategies, don’t forget about your 401(k). The tax savings associated with maxing out your retirement plan for 2015 is $18,000. For a taxpayer in the 25 percent tax bracket, that equals a tax savings of $4,500. The catch-up contribution limitation for individuals age 50 and older is $6,000. That translates into another $1,500 of savings... read more

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