Taxpayers 65 and older can claim an extra $6,000 deduction each for 2025 through 2028, on top of the regular senior standard deduction. The deduction phases out with income, so year-end choices about IRA withdrawals and gifts can make a difference.
The New $6,000 Senior Deduction: How to Make the Most of It in 2026 Read More »
Treasury began automatically opening Trump Accounts for eligible children on October 1, 2026. Parents still need to claim the account, and children born from 2025 through 2028 can receive a $1,000 government deposit only if a parent elects it on Form 4547.
Trump Accounts for Children: Claiming the Account and the $1,000 Contribution Read More »
Leave You may leave the money where it is, provided your former employer\’s plan permits it. But before you do, there are a few things you should consider. First, do you wish to consolidate your plan savings with other savings you may have elsewhere? Second, would you like to have more investment choices than your
Retirement Savings: Leave, Take, or Roll Read More »
Income Strategies in Retirement, When you retire, you will probably have several sources of income. These may include traditional individual retirement accounts (IRAs) , Roth lRAs, pensions, 401(k) or 403(b) accounts, mutual fund and brokerage accounts, and Social Security. You\’ll want to have a strategy for managing your income and withdrawing from your accounts that
Income Strategies in Retirement Read More »
Saving For Retirement When You\’re Self-Employed, you\’re in good company if retirement security is one of your main financial concerns. A difficult economy, market volatility, and less access to traditional pensions have heightened awareness of the need for retirement planning. As a self-employed individual, you really have to think carefully about your future, since you
Saving For Retirement When You\’re Self-Employed Read More »
Your Company\’s Retirement Plan – Time for a Check-up?, no question, keeping a retirement plan in compliance with tax and pension law requirements can be challenging for employers. Since mistakes in plan administration are not unusual and can be costly if uncovered in a government audit it\’s smart for employers to review their plan\’s operations
Your Company\’s Retirement Plan – Time for a Check-up? Read More »
