Articles

2021 Form 8880

Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver’s credit). You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover contributions) to...

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2020 Form 8880

Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver’s credit).   You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover...

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2021 Retirement Plan Limits

Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. If during the year either the taxpayer or his or her spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor his or her spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.)

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The Difference Between 3(21) and 3(38) Fiduciary Services

The Difference Between 3(21) and 3(38) Fiduciary Services

Plan sponsors are required by ERISA to provide an investment lineup for participants that has been prudently selected and monitored to minimize and control risk. To ease this burden, a retirement plan advisor may act as an ERISA 3(21) investment fiduciary with regards...

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Other Resources

2021 Form 8880

Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver’s credit). You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover contributions) to...

January 2022 Newsletter

January 2022 Newsletter

When Does a Participant Loan Become a Deemed Distribution?A recent IRS Issue Snapshot (link below) affirms that a participant loan is a legally enforceable agreement and terms of the loan agreement must comply with Internal Revenue Code (IRC Section 72(p)(2) and...

Ten Things to Know About Your Employer’s Retirement Plan

Ten Things to Know About Your Employer’s Retirement Plan

What it is? Your employer’s retirement plan is a defined contribution plan designed to help you finance your retirement. Federal and sometimes state taxes on your contributions and investment earnings are deferred until you receive a distribution from the plan...