Archive - 2011

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Your 2% Savings Opportunity – 2010 Tax Act

Your 2% Savings Opportunity – 2010 Tax Act

By now you’ve heard the news from the 2010 Tax Act – one of the provisions is that during calendar year 2011, the Social Security withholding tax is reduced from 6.2% to 4.2%.  This means that you have an additional 2% of your income, up to the $106,800 limit, available to you to do with as you wish.  This is your opportunity to make a splash!

I think it would be a very good idea to bump up your 401(k) deferral by 2% if you aren’t already maxed out.  If you have maxed out your 401(k), you could use the …

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