According to the US Small Business Administration, small businesses employ half of all private-sector employees in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits.
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One of the most important questions you face when changing jobs is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns.
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It’s never too late to start saving for retirement, but the sooner you begin, the more time your money has to grow. That’s because gains each year build on the prior year’s gains thanks to the power of compound interest–and it’s the best way to accumulate wealth. Let’s take a look at ten tips to help you when saving for retirement:
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According to the U.S. Small Business Administration, small businesses employ half of all private-sector employees in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits.
If you’re like many other small business owners in the United States, you may be considering the various retirement plan options available for your company.
To run a successful small business, there are a few tax tips every owner should know to help save money and minimize their tax liability. Here are our top ten tips: Continue reading
Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it’s important to look at the tax implications because not all retirement country destinations are created equal. Continue reading
Although just 0.15 percent of taxpayers were audited in 2019, the fear of being audited is never far from many taxpayer’s minds, and with the taxes becoming more complicated every year, there’s an even greater possibility of confusion turning into a tax mistake… and an IRS audit. Avoiding “red flags” like the ones listed below, however, could help you avoid one. Continue reading
Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Continue reading
With health care, housing, food, and transportation costs increasing every year, many retirees on fixed incomes wonder how they can stretch their dollars even further. One solution is to move to another state where income taxes are lower than the one in which they currently reside. Continue reading
As you approach retirement, it’s vital that you pay attention to key financial matters to ensure a smooth transition. Here are five of them: Continue reading
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