A defined benefit plan, more commonly known as a pension plan, provides guaranteed retirement benefits to employees. Defined benefit plans are primarily funded by the employer, with...
Cash balance plans are defined benefit retirement savings plans that allow business owners to make large deductible contributions each year and build up deferred retirement savings....
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/04/2021
Divorce comes with a series of surging emotions and the last thing on people’s mind, most times is finances. However, you will make several decisions that might directly or indirectly...
Posted by Karen Munoz, EA on 09/09/2021
When it comes to filing income tax returns, getting the lowest tax liability is not just about skill, it's about what you know. Unfortunately, many taxpayers lose deductions and...
This is an employer-sponsored pension plan that offers qualified employees a guaranteed payment during retirement. This is an alternative to the defined contribution plan, which allows...
The Keogh plan (HR 10 plan) is a tax-deferred retirement plan funded by the employer targeted at self-employed people and businesses that are not incorporated. Distributions to such...
Being a self-employed, independent contractor, or working for a small business can seem like a dream. However, one downside is that you are unlikely to have access to a workplace pension...
The CARES Act recently passed into law some measures to stimulate the economy. There is a provision that allows retirees to stop taking Required Minimum Distributions (RMD) from 401(k)...
Posted by Carmen Garcia on 06/22/2020
There are four ways to stop paying taxes on your crypto earnings. If you're fed up with the IRS receiving half of your short-term profits and 20% of your long-term gains, here...