by Leif Jensen | Feb 8, 2021 | Retirement |
The 2021 pay-in cap for traditional IRAs and Roth IRAs stays steady at $6,000. But the income ceilings on Roth IRA pay-ins go up. Contributions phase out at AGIs of $198,000 to $208,000 for couples and $125,000 to $140,000 for singles. Also, deduction phaseouts for...
by Leif Jensen | Sep 15, 2020 | Investing, Retirement, Running a Business |
Yes, there are options for retirement plans for small owners and their employees. I have a SIMPLE set up in my office. But there are a number of options for small businesses to assist workers save for retirement: SEPs, SIMPLE IRAs, payroll deduction IRAs, profit...
by Leif Jensen | Aug 30, 2020 | Rant, Retirement, Taxes |
You have worked long and hard. You also planned and saved and sacrificed to make this happen and now want to enjoy your later years in peace and quiet, with comfort. Did you expect that in retirement taxes can be your largest expense? Probably not. All of those...
by Leif Jensen | Jul 7, 2020 | Retirement |
If you a kid who actually has a job, as opposed to the typically summer jobs that don’t exist this year. You can contribute to a Roth IRA for him or her up to their earning limits or $6,000 whichever is less. If you decide to give this generous gift you have until...
by Leif Jensen | Feb 10, 2020 | Retirement |
I am finding the fear of retirement to be very real, and not all that surprising. The internet is full of warnings of a pending recession in 2020 which is a major cause of concern, then there are the reports that most American’s do not have adequate financial...
