You may be able to use losses within your investment portfolio to help offset realized gains. If your losses exceed your gains, you can offset up to $3,000 per year of the difference against ordinary income. After factoring in federal income and capital gains taxes, the...
As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you're allowed a deduction for contributions you make to an employer-sponsored retirement plan. In return, however, you're required to include certain employees in the plan, and to give...
If you're self-employed or own a small business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. Tax advantages A retirement plan can have significant tax advantages: Your contributions are...
Do you trust your investment prowess enough to put your 401(k) plan on the line? Don Uphouse, chief finance officer of Active Minerals International in Sparks, Md., does. The 59-year-old uses his company's brokerage window as a way to save and invest for retirement. "I'm a seasoned...
Congratulations! You've just landed a new job. Here are some important things to be aware of before you receive your first paycheck. When will I receive my paycheck? How often will you be paid? Typically, your payday will depend on the company you work for and which...
How much do you really know about your employer-sponsored retirement savings plan? If you're like many people, you have many ideas about how your plan works, which may or may not be entirely accurate. To gauge your knowledge, take this brief quiz: Are the following...
Women face special challenges when planning for retirement. Because their careers are often interrupted to care for children or elderly parents, women may spend less time in the workforce and earn less money than men in the same age group. As a result, their retirement...
Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance. With retirement benefits, you need to know the impact of income tax and estate tax laws in order to select the right beneficiaries. Although taxes shouldn't be the...
If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options. What will I be entitled to? If you leave your job (voluntarily or involuntarily), you'll be entitled to a distribution...
On May 18, 2015, the U.S. Supreme Court decided the case of Tibble v. Edison International. Tibble was an employee of Edison and participated in its 401(k) plan. He and other employees sued Edison under the Employee Retirement Income Security Act (ERISA) for breach of...