IRA vs 401k

Retirement Options

Retirement

What Our Readers Wish They’d Known About Finances as Teens

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Basic financial education is sorely lacking in our country, and most of us have at least a few things we wish we'd learned much earlier in life. We headed over to Instagram to get an idea of what our readers regret learning too late in life. Here's what they would have loved to learn about finance as teenagers. One email a day could help you save thousands Tips and tricks … [Read more...] about What Our Readers Wish They’d Known About Finances as Teens

Opinion: 401(k) red flags a small-business owner should see — before the IRS does

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Every year at tax time, your CPA goes over your company books, prepares your personal return and — after a few weeks of grinding — hands you something to sign. Ever think about what your signature means on a tax return? And on your business return? It means that you are filing your taxes, not the accountant. By signing, you attest to understanding every page, … [Read more...] about Opinion: 401(k) red flags a small-business owner should see — before the IRS does

Sixth Circuit Limits When Chapter 13 Debtors Can Pay into 401k

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Aug. 10, 2021, 6:52 PM401k withholdings are disposable income without six months of prior contributionsChapter 13 debtor sought to categorize contributions as expensesA bankrupt individual’s planned salary withholdings for his 401(k) retirement fund should be considered part of his disposable income for creditor payout calculations, if he failed to regularly contribute for at … [Read more...] about Sixth Circuit Limits When Chapter 13 Debtors Can Pay into 401k

Exactly How I’d Invest $5,000 if I Had to Start From Scratch Today | Personal-finance

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With a mere 0.2% annual fee and almost no turnover, the Invesco S&P 500 Equal Weight ETF has a good combination of low fees and low churn that give index funds their edge. All in all, there are lots of reasons to believe that ETF has what it takes to be worth owning as a reasonable first investment in any investor's long-term portfolio.Why all at once?While $5,000 is a … [Read more...] about Exactly How I’d Invest $5,000 if I Had to Start From Scratch Today | Personal-finance

Bitcoin IRA Tax Advantages – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

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In May 2021, I had just finished a pretty intense 12 months of helping take OC Bitcoin Network from a monthly meetup to a weekly meetup. In addition to the meetup work, over that same 12 months I independently consulted with over two dozen small businesses on how they could begin to implement Bitcoin payments and personally installed BTCPay Server at four brick-and-mortar … [Read more...] about Bitcoin IRA Tax Advantages – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

Is 529 Plan Loophole Too Beneficial for the Wealthy?

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seb_ra / Getty Images/iStockphotoOne of the best ways to save for your children’s education is to set up a tax privileged 529 plan. A 529 plan is the only one of its kind with the privileged tax benefit of the investment gain and the distribution being free of tax. You might think that this functions in the same way as a Roth IRA, but it does not — the contribution limits and … [Read more...] about Is 529 Plan Loophole Too Beneficial for the Wealthy?

Can you put your tax refund into a Roth IRA? | Business

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An old episode of The Simpsons once depicted all of Springfield celebrating New Year’s Eve with one notable exception: the comically straitlaced Ned Flanders, who spent the evening preparing his tax return just to be financially pru-diddly-udent.Nobody really wants to be Flanders, but in a city of fools, he was a wise man.Thinking ahead about your taxes and how you’ll spend … [Read more...] about Can you put your tax refund into a Roth IRA? | Business