Browsing Tag
401(k) Taxes
63 posts
NYC Millionaires to Pay Highest Tax Rate in U.S.
New York City millionaires will soon be subject to the country’s highest tax rate after Governor Andrew Cuomo…
Americans Fear Post-Pandemic Tax Pinch
One in five Americans say they will have to delay retirement—or not retire at all—as a result of…
IRS Extends Tax Deadlines, Provides Relief for Texas Storm Victims
The Internal Revenue Service (IRS) announced on Monday that victims of this month’s winter storms in Texas will…
How a Financial Transaction Tax Would Hamstring 401k Savers
Middle class Americans saving for college, retirement and other life milestones would see a “backbreaking tax bite” if…
Wealthy Retirees Will Lose Almost 25% of Retirement Income to Taxes
Retirees in the top 20% income bracket will pay 11% in taxes on their retirement income, while those…
How the Consolidated Appropriations Act Effects Retirement Plans
The Consolidated Appropriations Act, 2021 generally provides the annual funding for the federal government and also contains several…
Top 401(k) Political Story of 2020: Will Biden Swap Tax Breaks for Credits?
He’s slowing his roll on a number of issues now that the election is behind him, but what…
2021 401(k) Contribution Limits Released: IRS
As was widely expected, 401k contribution limits will not increase in 2021, the Internal Revenue Service (IRS) announced…
‘Millionaire Tax’ Coming to N.J.—Will Other States Follow Suit?
New Jersey is adding a wealth tax on its millionaires in an effort to “fight the financial realities…
If Biden Wins, Would ‘Drastic’ 401k Change be Attempted?
Much has been made in the past week of a potential drastic change to 401k plans should Joe…