Note that the combined annual limit applies to both plans. So while you can divide your contributions across a traditional 401k and a Roth 401k, the combined contribution across both plans cannot exceed the IRS annual maximum. Their are also no income restrictions for Roth 401k plan contributions...
401k IRA Roth IRA Social Security income tax financial planning Recently Popular Articles Which Account to Take your RMDs From Windfall Elimination Provision (WEP) for Social Security IRA RMD Reporting Early Withdrawal of an IRA or 401(k) - SOSEPP Arguments in Favor of a Rollover Converti...
Often when dealing with an issue regarding a prior year’s tax return it is necessary to get a copy of the information that the IRS has on record for your return as filed. Of course, you should always keep a copy of your original return, but in the absence of an original, the IRS’...
Below is the text of IRS’Tax Tip 2015-23, which details some of the reasons that it makes sense to use direct deposit for your tax refund. On the other hand, it can also be easy and convenient to use direct debit for any tax payments that you need to make as well. You can sched...
IRA RMD Reporting Windfall Elimination Provision May Impact Spousal Benefits but not Survivor Benefits Windfall Elimination Provision (WEP) for Social Security When is Your Social Security Birthday? Previous Article Archives… Previous Article Archives… Contact Info Blankenship Financial Planning, Ltd....