Are catch-up contributions allowed for SEP IRAs?

June 30, 2024 No Comments

A: In general, catch-up contributions are not allowed for SEP IRAs because these plans require contributions to be made by employers only. Since catch-up contributions are made by the account-owning employee, they are not permitted. However, some SEP plans may allow employees to make traditional

Are catch-up contributions allowed for SEP IRAs?

July 7, 2024 No Comments

Are dividends the best way to make money for retirement?

June 30, 2024 No Comments

A: There are numerous theories that speak to the best method to save for retirement – a traditional asset allocation based time frame, inclusion of alternative asset classes to achieve broader reach and the consideration of dividends as a means to hedge against market risks. Here,

Are dividends the best way to make money for retirement?

July 7, 2024 No Comments

Are estate planning fees tax deductible?

June 30, 2024 No Comments

A: Estate planning fees may be tax deductible, but only if certain conditions have been met. Internal Revenue Service (IRS) Rules In order to be deductible, the IRS requires that estate planning fees must be paid: (1) for the production or collection of income; (2)

Are estate planning fees tax deductible?

July 7, 2024 No Comments

Are mutual funds considered retirement accounts?

June 30, 2024 No Comments

A: Unlike a 401(k) or Individual Retirement Account (IRA), mutual funds are not classified as retirement accounts. Employers generally do not sponsor them like a 401(k), and the Internal Revenue Service (IRS) does not offer the tax benefits on mutual fund accounts that it does

Are mutual funds considered retirement accounts?

July 7, 2024 No Comments

Are My Social Security disability benefits taxable?

June 30, 2024 No Comments

A: Social Security disability benefits may be taxable if you receive other income that places you above a certain threshold. The majority of Social Security disability recipients, however, do not have to pay taxes on that income. The reason is that most people on disability

Are My Social Security disability benefits taxable?

July 7, 2024 No Comments

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