By Jason Alderman For most of us, income tax calculations don’t change much from year to year. But thanks to the roller coaster economy of the past few years, many people have undergone major life changes that can have a significant impact – good or bad – on their taxable income and how they should …
Tag Archive: 401(k)
Permanent link to this article: http://www.easttexasreview.com/tax-strategies-in-a-tough-economy/
Jan 05
Boosting your retirement plan contributions
By Jason Alderman For the first time since 2009, the IRS has increased the amount people can contribute to their 401(k) and other defined contribution plans. Effective January 1, 2012, the maximum annual contribution grows by $500 to $17,000, thanks to an increase in the Department of Labor’s Consumer Price Index for Urban Consumers (CPI-U), …
Permanent link to this article: http://www.easttexasreview.com/boosting-your-retirement-plan-contributions/
Dec 13
How to undo a Roth IRA conversion
By Jason Alderman We’ve all suffered buyer’s remorse – say you buy something you really can’t afford or the item’s sudden drop in value make it seem, in retrospect, a poor investment. That’s what has happened to some people who’ve taken advantage of IRS rules that allow them to convert a regular IRA or 401(k) …
Permanent link to this article: http://www.easttexasreview.com/how-to-undo-a-roth-ira-conversion/
Apr 28
For Mother’s Day: Help mom get organized
Mother’s Day is May 8. In addition to traditional gifts like candy and flowers, consider spending a few hours helping your mom organize her financial, legal and medical records so she – and you – know where she stands. Being prepared will make it much easier to take appropriate actions should an issue ever arise.Here …
Permanent link to this article: http://www.easttexasreview.com/for-mothers-day-help-mom-get-organized/
Mar 31
Procrastinators pay
I’m the last person to cast aspersions on anyone who procrastinates, given my own occasional lapses in that area. I’ll leave it to the self-help gurus to supply behavior-modification techniques. What I will say, however, is that procrastination can be a very costly habit. Here’s how putting off the inevitable can reap unpleasant financial consequences: …
Permanent link to this article: http://www.easttexasreview.com/procrastinators-pay/
Mar 03
Think twice before tapping retirement plans
Before the housing crisis, it wasn’t uncommon for people to raid their home-equity piggybanks to pay off bills. Plummeting home values and tougher lending standards helped curb that practice, leading some people to engage in a far more disturbing habit: borrowing or withdrawing money from their retirement accounts to cope with financial hardship. There may …
Permanent link to this article: http://www.easttexasreview.com/think-twice-before-tapping-retirement-plans/