One-person 401(k) Plans
One-person 401(k) plans provide a valuable source of retirement savings for successful entrepreneurs. Given the right circumstances, such plans allow large contributions on behalf of a business owner and maintain flexibility for making contributions in future years.
IRS Limits Employer Identification Number Requests
The IRS is now only issuing one employer identification number (EIN) per responsible party each day.
Social Security Statements
The Social Security Administration (SSA) recently announced that Social Security statements may now be viewed online at
New Tax Rule for Local Lodging Expenses
The IRS recently issued long-awaited regulations that permit certain not-away-from-home lodging expenses to be deducted by workers if they are not reimbursed by their employer.
Age-55 Qualified Retirement Plan Exception
The taxable portion of a pre-age 59 1/2 withdrawal taken from a qualified retirement plan or traditional IRA can be hit with a 10% early withdrawal penalty unless one of several exceptions applies.