Why Social Security Retirement is Important to Women

The following article was published by the SSA. Social Security plays an especially important role in providing economic security for women. In the 21st century, more women work, pay Social Security taxes, and earn credit toward monthly retirement income than at any other time in our nation’s history. But, women face greater economic challenges in …

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Contribute to an IRA by April 15 to Claim It on 2018 Tax Returns

The following article was published by the IRS.  It’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, …

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Seniors Who Turned 70½ Last Year Must Start Receiving Retirement Plan Payments by April 1

The following article was published by the IRS. In most cases, Monday, April 1, 2019 is the date by which persons who turned age 70½ during 2018 must begin receiving payments from Individual Retirement Accounts (IRAs) and workplace retirement plans. Two payments in the same year The payments, called required minimum distributions (RMDs), are normally …

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For Private Corporations and Their Employees, IRS Provides Initial Guidance on New Tax Benefit for Stock Options and Restricted Stock Units

The following article was published by the IRS. The Internal Revenue Service has offered guidance on a recent tax law change that allows qualified employees of privately-held corporations to defer paying income tax, for up to five years, on the value of qualified stock options and restricted stock units (RSUs) granted to them by their …

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Understanding Spouses’ Benefits

The following article was published by the SSA. Marriage is a cultural institution that exists all over the world. Having a partner means sharing many things including a home and other property. Understanding how your future retirement might affect your spouse is important. When you’re planning for your fun and vibrant golden years, here are …

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401(k) Contribution Limit Increases to $19,000 for 2019; IRA Limit Increases to $6,000

The following article was published by the IRS. The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The IRS issued technical guidance detailing these items in Notice 2018-83. Highlights of Changes for 2019 The contribution limit for employees who participate …

Continue reading 401(k) Contribution Limit Increases to $19,000 for 2019; IRA Limit Increases to $6,000