Archive - May 7, 2018

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Designated Roth Accounts ( Roth 401k or Roth 403b )
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Tax Planning For Fiscal Year 2018

Designated Roth Accounts ( Roth 401k or Roth 403b )

hymen rothDesignated Roth Accounts or Roth 401k are simply 401k plans that allow employees to designate all or part of their elective deferrals as qualified Roth 401k contributions. Qualified Roth 401k contributions are made on an after-tax basis, just like Roth IRA contributions. This means that employee contributions and earnings are entirely free from federal income tax when distributed from the plan, subject to qualifications. Contributions are not deducted from income (as regular 401k or deductible IRA contributions are). This article discusses qualified Roth 401k contributions.

Caution: 401k sponsors are not required to allow Roth contributions to their plans. But if …

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Tax Planning For Fiscal Year 2018

MON, MAY 7th, 2018
 
As we take a deep breath after filing our 2017 taxes and begin to look forward to warmer temperatures and Spring flowers, we should take a few minutes to focus on setting ourselves up for tax success in 2018.

Many of us have enjoyed a bit of extra income as the new tax rates have started to flow through our paychecks. While enjoying the extra cup of coffee, lunch or additional 401k contribution that the extra income is affording us, we need to pause and shift our attention to our tax withholding for 2018. With …

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