Tag: retire

  • New Law Provides a Variety of Tax Breaks to Businesses and Employers

    New Law Provides a Variety of Tax Breaks to Businesses and Employers

    While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019. It makes many changes to the tax code, including an extension…

  • 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.…

  • Using Knowledge Management to Develop Your Succession Plan

    Using Knowledge Management to Develop Your Succession Plan

    As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and markets tend to have a knack for staying on top. If that person is a company’s owner, however, great knowledge can turn into a vulnerability when he or she decides to retire or…

  • Are Your Employees Ignoring Their 401(k)s?

    Are Your Employees Ignoring Their 401(k)s?

    For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it. It’s in your best interest as a business owner to buck this trend. Keeping your employees engaged with their…

  • Catch-up Retirement Plan Contributions Can Be Particularly Advantageous Post-TCJA

    Catch-up Retirement Plan Contributions Can Be Particularly Advantageous Post-TCJA

    Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions…