Category Archives: Retirement
Retirement Plan and IRA Rollovers
The following video is from the IRS. Did you know that you can move funds from your Individual Retirement Arrangement and retirement plan to another IRA or plan? There are two ways to do so: you can have the funds … Continue reading
Posted in IRS, Retirement, Tax Tips
Tagged Cozby & Company, Cozby & Company LLC, Cozby CPA, Heather Cozby, Heather Cozby accountant, Heather Cozby CPA, IRS, IRS.gov, personal finance tips, Plymouth CPA Heather Cozby, Plymouth MA accountant, Plymouth MA accountants, Plymouth MA bookkeeper, Plymouth MA CPA, Plymouth MA tax preparation, Plymouth MA tax preparer, Plymouth MA taxes, Retirement Rollovers, Rollovers
Here’s What People Should Know about Taking Early Withdrawals from Retirement Plans
The following article was published by the IRS. Taxpayers may need to take money out of their individual retirement account or retirement plan early. However, this can trigger an additional tax on top of other income tax they may owe. … Continue reading
Posted in Investing, IRS, Personal Finance, Personal Taxes, Planning Strategies, Retirement, Tax Tips, Taxes
Tagged are rollovers a nontaxable withdrawal, Cozby & Company, Form 5329, Plymouth MA accountant Heather Cozby, tax implications of taking early withdrawals from retirement plans, what is a nontaxable withdrawal, what is an early withdrawal, what is the penalty for early withdrawal from a retirement plan
Contribute to an IRA by April 15 to Claim It on 2018 Tax Returns
The following article was published by the IRS. It’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax … Continue reading
401(k) Contribution Limit Increases to $19,000 for 2019; IRA Limit Increases to $6,000
The following article was published by the IRS. The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. Highlights of Changes for 2019 The contribution limit … Continue reading
Posted in Investing, IRS, Personal Finance, Personal Taxes, Planning Strategies, Retirement, Tax Deductions, Tax Tips, Taxes
Tagged 2019 401(k) contribution limits, 2019 IRA limits, Cozby & Company, Heather Cozby CPA, Plymouth MA CPA, Retirement Savings Contributions credit, saver's credit, Thrift Savings Plan
Year End Tax Planning Considerations For The Individual
Below are some important steps to keep in mind as we approach the 2019 tax season: 1. Higher-income earners must be wary of the 3.8% surtax on certain unearned income. The surtax is 3.8% of the lesser of: 1. NET … Continue reading
Posted in Charitable Organizations, IRS, Personal Finance, Personal Taxes, Planning Strategies, Retirement, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Year End
Tagged 0.9% additional Medicare tax, 3.8% surtax, accelerate deductions into 2018, bunching strategy for discretionary medical expenses and charitable contributions, Cozby & Company, deferring bonuses into 2019, long-term capital gains, make gifts sheltered by the annual gift tax exclusion, Plymouth MA tax preparer, taking RMDs, tax reform for individuals, year-end tax planning for individuals
Facts to Help Taxpayers Understand Individual Retirement Arrangements
The following article was published by the IRS. Individual Retirement Arrangements – better known simply as IRAs – are accounts into which someone can deposit money to provide financial security when they retire. A taxpayer can set up an IRA … Continue reading
