Tag: 401(k)

Latest Posts From Tag: 401(k)

Personal Taxes

Retirement Plan Limits Rise in 2025: What You Need to Know

Your max contributions to 401(k) plans for 2025 increase to $23,500, up from $23,000 for 2024, according to the IRS. The tax agency also issued technical guidance regarding cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items

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Personal Taxes

How to Shield Your Estate from Creditors

The executors are settling an estate — but the decedent owes money. What can the creditors take and what is reserved for the inheritors? There is no easy answer, and a variety of federal and state laws apply. To start with, retirement

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Personal Taxes

Understanding Pre-Tax and After-Tax 401(k) Plans

Most people think about saving for retirement. If your employer offers a 401(k) plan, which about half of all companies currently do, taking advantage of that plan is an attractive option. In fact, a 2018 report by the Stanford Center

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Construction

Avoid 401(k) Compliance Mistakes

As an employer, one of your main goals should be keeping your employees happy. And you can keep your employees happy without losing favorable 401(k) tax benefits, paying penalties or facing liabilities. In the process, don’t forget to take the

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Small Business

401(k) and IRA Limits Rise for 2023

The IRS has announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most 457 plans, and the federal government’s Thrift Savings Plan. Also

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COVID-19

IRS Extends Administrative Relief For 401(K) Plans

As mitigation measures related to COVID-19 ease, it will be interesting to see which practices and regulatory changes taken in response to the pandemic remain in place long-term. One of them might be relief from a sometimes-inconvenient requirement related to

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