If you contributed to a Roth when you made too much to qualify—or if you contributed more than you’re allowed to either IRA—you’ve made anexcess contribution. That contribution is subject to a 6% tax penalty. The maximum contribution limit of $6,500 for 2023 ($7,000 in 2024) for...
If you did a Backdoor Roth, which involves making a non-deductible contribution to a Traditional IRA and then converting from the Traditional IRA to a Roth IRA, you must report both the contribution and the conversion in the tax software. For more information on Backdoor Roth in general, se...
IRAs come in two main flavors, traditional and Roth. There are some ways to add sprinkles on the top, such as opening an IRA for a spouse without earned income, but that's on the "advanced planning" menu. A traditional IRA allows you to deduct contributions from your taxable income, whi...
403(b), IRA, or any other kind of retirement account. The earlier speak up about the overcontribution, the better. It’s up to the plan administrator to return any excess payments to employees (in the case of anemployer-sponsored plan), as well as any earnings on the excess...
This paper proposes an approach to determining the optimal number of medical specialists in a particular territory. According to the author’s theoretical model, in order to maximise public welfare, the marginal contribution of the last physician recruited to the growth of the public utility function...
Remove excess contributions from your retirement plan, along with any gains from the excess contribution (called Net Income Attributable or NIA). If you don’tremove your excess contributions, your penalty for over-contributing is 6% for each year the funds remain in your account. ...
In the closed-loop mode, fresh or sea water together with some added sodium hydroxide is used to take up SOx from the exhaust. The washing water is continuously circulating and cleaned in the system and finally discharged and purified on-land in a treatment plant to remove the polluted ...
Nonfinancial disclosures of product and business expansion planning occur frequently in practice and are an important vehicle by which managers convey corporate information to outsiders. However, little is known about how the opportunistic incentives of managers affect the choice of such nonfinancial discl...
Even large inflows of oxygen-rich seawater to the Baltic Proper have in recent decades given only short-lived relief from oxygen deficiency below the haloc
Different dynamics of climate change, population growth, and urbanisation challenge water service providers (WSPs) and those managing urban planning. The scientific community has been evidencing the concept of sustainable urban water management (SUWM) as a driver to foster the integration of the urban...