Understanding how paycheck deductions work can make it easier to manage finances and ensure the correct amount of take-home pay is received. This is essential for making informed decisions about ...

As clients amass their retirement dollars over their working years, tax situations are likely to become more complicated over time. That’s especially true for clients who are fortunate enough to have ...

Carol explained that she had rolled a 401(k) from a former job into a traditional IRA. Later, she began contributing to that IRA with after-tax money — without realizing that, unlike a Roth IRA, she ...

Taxpayers with the largest IRAs (and their beneficiaries) will be in higher tax brackets in the future, meaning that as their tax-deferred traditional IRAs continue to grow, so will the tax bill that ...

Choosing between Roth and pre-tax contributions for retirement savings depends on how each impacts your taxes now and in retirement. Roth contributions are made with after-tax dollars, so both ...

A review of the IRS and plan rules that can affect how participants can draw down their pre- and post-tax retirement accounts. The Internal Revenue Service requires certain distributions from ...

One of the most common retirement questions people face is also one of the most confusing. As you build your retirement savings, should you contribute to a pre-tax account like a 401(k) or IRA, or put ...

Forbes contributors publish independent expert analyses and insights. I strive to alleviate stress by analyzing and clarifying the tax code. Oct 16, 2024, 06:00am EDT Navigating the financial ...