A 457(b) plan is an employer-sponsored retirement savings account with tax benefits. With this plan, you contribute pre-tax money to your salary, and that money will not be taxed until...
Posted by KLSM CPA Firm PLLC on 04/20/2021
A defined benefit pension plan is a program in which the amount paid is a factor of the years one has been working for the employer, and the salary earned. With defined benefits,...
Posted by Unifirst Financial & Tax Consultants on 03/26/2021
Qualified pension plans have many tax advantages but some disadvantages for employers and highly compensated employees (HCEs) or entrepreneurs. For companies, qualified pension plans...
Posted by Daniel P Vigilante CPA and Profit Consultants on 02/23/2021
The idea behind a pension plan is to provide a monthly income for a particular age group. The responsibilities of funding the program lie solely with the employer. This article provides...
Posted by Tiffany Gaskin on 12/24/2020
The Internal Revenue Code is configured to offer numerous tax reductions to individuals and businesses. Even the IRS recognizes that you have to save money to live and manage your...
Posted by Elliot Kravitz, ATP on 08/07/2020
As a small business owner, it might be a smart move creating pension plans for your employees. In this article, you will know the benefits it will give to both you and your employer. Small...
Posted by Abundant Wealth Planning LLC on 07/09/2020
A lot of working individuals do not entirely understand what happens when a company they work for converts to a cash balance plan while other recently hired professionals often feel...
Posted by Unifirst Financial & Tax Consultants on 01/22/2019
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
A pension is a defined benefit retirement plan that guarantees a specific regularly scheduled payment to employees after they resign. This is not the same as retirement vehicles, for...
Posted by J.R.'S TAX SERVICE on 02/19/2019
