IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2016 is $5,500 (or 100% of your earned income, if less), unchanged from 2015. The maximum catch-up contribution for those age 50 or older remains at $1,000. (You can contribute to both a traditional and Roth IRA in…
Financial projections are a crucial aspect of the core small business plan, especially for newer companies. By considering factors like production costs, market prices, and demand for your services, you can achieve a clear understanding of your financial situation and discover your full profit potential. Benefits of Financial Projections Perceive an unbiased view of your…
1 – What is the Medicare open enrollment period? The Medicare open enrollment period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plans typically change what they cost and cover. In addition, your health-care needs may have changed over the…
If you converted a traditional IRA to a Roth IRA in 2014 and your Roth IRA has sustained losses, you may want to consider whether it makes sense to undo (recharacterize) your conversion. You have until October 15, 2015, to undo your 2014 conversion. (If you’ve already filed your federal income tax return for 2014,…
Buy‐sell agreements can have an impact on the valuation of a business. However, the degree of the impact is dependent upon the purpose and use of the valuation. The agreement may be governing as a contract and binding on the parties, yet it may not be binding for defining value in a tax context. In…