Key Takeaways The One Big Beautiful Bill Act makes several major Tax Cuts and Job Act provisions permanent, providing long‑term clarity on tax brackets and deductions. High‑income taxpayers now face an itemized‑deduction phaseout, reducing or eliminating deductions as income rises…. Read More >
The ABCs of 401(k)s
What is a 401(k) account? What are the benefits of it? These questions often arise when finding out that part of an individual’s benefit package includes a 401(k)-retirement plan. A for Account A primary objective during one’s working years should… Read More >
Changes to 401(k) Catch-Up Contribution
Overview The SECURE Act 2.0 passed in December of 2022 expands upon the original SECURE Act. This updated legislation introduces modifications to several retirement plan rules, including changes that impact 401(k) and Solo 401(k) catch-up contributions.[i] Catch-Up Contributions Catch-up contributions… Read More >
Traditional Versus Roth Contributions
Overview Which is better, Traditional (Regular) or Roth contributions? The answer mostly depends on current and future tax rates. Regular contributions are deductible from current year income (reducing taxes paid in that year) but any withdrawals are taxable. (Hence why… Read More >
Sunset of Tax Cuts and Jobs Act Creates Planning Challenges
In December 2017 the Tax Cuts and Jobs Act (TCJA) was passed, making substantial changes in the tax code, including increased gift and estate tax exclusions and modifications to tax brackets. However, many changes made under the TCJA are set… Read More >
