Your 2021 reference guide for Federal Income Taxes, Traditional & Roth IRAs, Social Security, Gift & Estate Taxes, Health Savings Accounts, and more. Download 2021 Tax Table PDF This information is for reference only and should be reviewed with a qualified professional as you situation may vary from others. Nothing mentioned above is [...]
ESG or Environmental, Social, and Governance Criteria include standards which you can use to screen investments to ensure they are socially and environmentally responsible. For the socially conscious, it’s easy to see why an ESG considerations would factor heavily in how and why you invest. You want your money to make a difference, not to fossil fuel companies, bad [...]
Yes, your employer is hiding a Ginormous Mega Backdoor Roth 401k. What now? You qualify for a Mega Backdoor Roth 401(K) if you have Maxed out 401(k) contributions An employer-sponsored 401(k) with voluntary after-tax contributions An employer-sponsored 401(k) with the ability to perform in plan conversions Or the ability to withdrawal after-tax contributions This (somewhat complex) tax [...]
Whether you’re contributing to an IRA, 401(K), or a similar strategy, you will (likely) eventually hit a cap. The IRS limits total contributions depending on the retirement strategy you’re using, which works out to $19,500 (+6,500 for 50+) for a 401(K) and $6,000 ($7,500 for 50+ for most. If you earn between $140,000 and $198,000 (single/joint filing) that rate [...]
