Payroll March 27, 2023
Automatic Enrollment 401(k)s Become Automatic
If an employer includes an automatic enrollment feature in its 401(k) plan, it may encourage greater participation among the rank-and-file, especially younger workers.
Ken Berry, Esq., is a nationally-known writer and editor specializing in tax and financial planning matters. During a career of more than 35 years, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company in the financial services industry. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals, emphasizing a sense of wit and clarity.
Payroll March 27, 2023
If an employer includes an automatic enrollment feature in its 401(k) plan, it may encourage greater participation among the rank-and-file, especially younger workers.
Taxes March 24, 2023
The required minimum distribution (RMD) rules apply to SIMPLEs. Beginning in 2023, the new law increases the age threshold to 73, up from 72 under the initial SECURE Act.
Payroll March 22, 2023
The 401(k) plan is one of the most popular qualified retirement plans around. However, in the past eligibility was generally restricted to an employer’s full-time employees.
Taxes March 22, 2023
If you meet the tax law requirements and are receiving Supplementary Security Income (SSI) and/or Medicaid benefits, you’re automatically eligible to participate.
Taxes March 20, 2023
Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. But some are permanent provisions of the tax code.
Taxes March 14, 2023
The new law enhances the benefits of making “qualified charitable distributions” (QCDs) from a taxpayer's IRAs.
Taxes March 13, 2023
These changes provide more flexibility and tax relief to owners of retirement accounts. If you have any questions, don’t hesitate to contact your tax and financial advisors.
Taxes March 10, 2023
The new case involves a complex series of transactions where three brothers intermingled their business and personal interests.
Taxes March 1, 2023
Generally, small business owners who use their automobile for business driving are entitled to deduct expenses based on the vehicle’s use, but there are plenty of twists and turns along the way.
Taxes February 14, 2023
The annotations show the locations he supposedly visited in connection with either business. For several reasons, the Tax Court didn’t find this evidence credible.
Taxes February 13, 2023
For 2023, a participating employee can contribute up to $22,500 in elective deferrals or up to $30,000 if they are age 50 or over.
Payroll February 3, 2023
A taxpayer may qualify for “ten-year averaging” when they receive a lump-sum distribution (LSD) from a qualified plan.