SECURE 2.0: Which provisions went into effect in 2024?

SECURE 2.0: Which provisions went into effect in 2024?

The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act was signed into law in December 2022, bringing more than 90 changes to retirement plan and tax laws. Many of its provisions are little known and were written to roll out over several years...
Looking into 2024: Some changes when it comes to your taxes

Looking into 2024: Some changes when it comes to your taxes

With 2023 coming to a close, let’s take a look at what we already know will be changing in 2024 when it comes to taxes—and how they will affect our wallets and businesses. While sweeping tax reforms are unlikely as divided government continues in Washington, the IRS...
How to avoid the early withdrawal tax penalty on IRA distributions

How to avoid the early withdrawal tax penalty on IRA distributions

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals depending on how old you are when you take them and what you do with the money. Important: Once you reach a certain...
Self-employed? Build a nest egg with a solo 401(k) plan

Self-employed? Build a nest egg with a solo 401(k) plan

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) if you have healthy self-employment income and want to...