Tag: retirement

  • Still Have Questions After You File Your Tax Return?

    Still Have Questions After You File Your Tax Return?

    Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. Are you wondering when you will receive your refund? The IRS has an online tool that can…

  • What Qualifies as a “Coronavirus-Related Distribution” from a Retirement Plan?

    What Qualifies as a “Coronavirus-Related Distribution” from a Retirement Plan?

    As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify? In other words, what’s a coronavirus-related distribution? Early distribution basics In general, if you withdraw money from an IRA or eligible…

  • You Might Still Have Time to Cut Your Tax Bill with IRAs

    You Might Still Have Time to Cut Your Tax Bill with IRAs

    If you’re getting ready to file your 2019 tax return and your tax bill is higher than you’d like, you may still have an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the Wednesday, April 15, 2020, filing date and benefit from the…

  • Using Your 401(k) Plan to Save This Year and Next

    Using Your 401(k) Plan to Save This Year and Next

    You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a tax-wise way to build a nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year end.…