Posted by Saaib T. Uppal, CPA, QKA The IRS has announced cost-of-living adjustments that should be noted for retirement planning purposes. Below is a chart that outlines employee benefit plan limits for 2020: PLAN LIMITS RETIREMENT & SOCIAL SECURITY 2020 Limit 2019 Limit 2018 Limit Section 401(k), 403(b), 457(b) elective deferrals $19,500 $19,000 $18,500 401(k) or 403(b) catch up contributions … Continued
Author Archives: Saaib Uppal, CPA, QKA
The IRS has announced cost-of-living adjustments that should be noted for retirement planning purposes.
Below is a chart that outlines employee benefit plan limits for 2019:
As required by IRC Section 415, the IRS has announced cost-of-living adjustments that should be noted for retirement planning purposes.
What the IRS can Learn from Amelia Bedelia: The IRS Forfeits to Common Sense when Applying Forfeited Funds to Safe Harbor Contributions
Some of my most memorable childhood stories were those of Amelia Bedelia by Peggy Parish.
Along with the presidential election on Tuesday, November 8, another election that participants should have on their mind is the deferral for their retirement plan.
Every year, right around December 31st (and closer to January 1!), we sit down and start to draft up resolutions for the upcoming new year. Whether it’s aiming for a healthier life style, setting aside for targets at work, or perhaps being more fiscally responsible, it’s important to not only make these goals, but to have a plan in place for accomplishing them as well.
Whether it is when we are growing up, in school, or in our careers, we tend to gravitate towards those who are most like us and form groups.
Corbin Blue may not have been targeting plan participants as his audience when he told us to “push it the limit”, but what would those limits be if he was? Well we know what they are for 2015 thanks to a recent IRS announcement.
As discussed in one of our previous blog posts How to stop a non-elective contribution, circumstances and factors often arise that have us wishing that a commitment that we had entered into had an escape clause.
Imagine you come home from school after graduation and you see your mother beaming with a huge smile on her face. She asks to see your diploma (a certificate of completion in this example) and you oblige and move on to show your father the same.