Retirement Planning

Recent Answers

2012-02-07 Accounting, Payroll & Pension Issues - 403b employer contribution:

Hi Christopher,    You are correct.  403(b) contributions made to your account represent your assets and not the employer's assets.    For employer's contributions, the transfers might not be immediate

2012-02-04 Accounting, Payroll & Pension Issues - Early withdrawal of 401k funds:

Hi Darcy,    Thanks for your question.    One of the objective in financial planning is to establish an emergency fund.  That was not done - but that is water over a dam.    In general, I am not fond of

2012-02-04 Accounting, Payroll & Pension Issues - Tax exemption on Lump Sum Dist.:

If the money is paid to you - it will be subject to federal income tax, state income tax (if you live in a state that has an income tax) and a 10% excise tax for money received before age 59 1/2. The trustee

2012-02-01 Retirement Planning - 401k Contribution:

Donnie, thanks for your information. Depending on your marital status you and your spouse may be able to also contribute into a traditional IRA and take either full or partial deduction for your contribution

2012-01-31 Accounting, Payroll & Pension Issues - Partners as employees:

Hi Donna,    You are very smart in thinking ahead and anticipating potential problems before they arise.    Based on my questions, I believe that the IRS is more concern about certain issues:    5. Cash