Remove 2020 Remove 401(k) Remove Taxes
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Thirteen Tax Topics for Older Adults

Money Talk

All of these events impact income taxes. This post describes thirteen tax-related topics (in no particular order) that people should be familiar with in later life. Income taxes on RMDs need to be planned for with tax withholding by the plan custodian or quarterly estimated payments to the IRS.

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Five Ways for Women to Take Charge of their Financial Futures

Money Talk

Webinar attendees were encouraged to aim for 3 to 6 months of essential expenses in emergency savings, automate savings if possible, and put tax refunds to work by saving all or part of them. This includes understanding characteristics and amounts of different categories of investments including retirement savings plans like IRAs and 401(k)s.

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An Introduction to IRMAA

Money Talk

Many are middle income taxpayers who diligently saved and invested for 4-5 decades in tax-advantaged plans. As I wrote in my book Flipping a Switch , some older adults must “plan for higher taxes in the future, especially when required minimum distributions (RMDs) kick in.” 2020) to the year that they are paying IRMAA (e.g.,

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Does Bitcoin belong to 401(K) plans?

HR Digest

An increasing number of employees now have access to cryptocurrencies like Bitcoin in their 401(k) plans. The digital currency revolution has been happening for years now, but many people still don’t know what Bitcoin is or how it should be handled in their 401k plan. Advantages of 401(K) crypto investments.

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The Two Sides of Retirement: Financial and Non-Financial

Money Talk

One webinar sponsored by The American College of Financial Services covered financial topics such as income taxes, required minimum distributions (RMDs), qualified charitable distributions (QCDs), and income-related monthly adjusted amount (IRMAA) Medicare premium surcharges. Financial Planning Take-Aways ¨ Tax Deferral ?

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If You’re Paid Biweekly, You’ll Probably Get an Extra Paycheck in 2020

HR Digest

Does this mean you’ll get an extra paycheck in 2020? Does this mean you’ll earn more than your annual salary in 2020? Or will the amount of each paycheck in 2020 be lower than in 2019? lower each pay period during 2020 (although you’d make the same total salary). This means that gross pay would be 3.7%

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401(k) Plans: 20 Things You Should Know

HR Digest

Are you planning to invest in a 401(k) retirement savings plan, but unsure of the critical things to consider before making a decision? In this article, we will share 20 essential things you need to know about a 401(k), including contribution limits, investment options, employer contributions, fees, and more.

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