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April 1st, 2010 | By William Allan | No Comments »
Social Security Payouts to Top Revenue This Year
By DOUGLAS MCINTYRE Posted 5:50 AM 03/25/10 Retirement, Economy
Economists have said for some time that the Social Security fund would run out of money sometime between 2035 and 2040. At that point, it won’t be able to provide older Americans any safety net at all. This year the [...]
March 17th, 2010 | By William Allan | No Comments »
Back in May of 2006 there was a pretty significant change to the tax laws involving converting a traditional IRA to a Roth IRA. In the year 2010 everyone can convert their traditional IRAs to a Roth IRA – and that’s an opportunity that not everyone had in the past. The income limitation for contributing [...]
March 10th, 2010 | By William Allan | No Comments »
Starting Jan. 1, 2010, all U.S. citizens will have an equal ability to convert traditional Individual Retirement Accounts to Roth IRAs. Prior to 2010 only taxpayers with modified gross-adjusted incomes under $100,000 were allowed to convert to Roth IRAs, with the same limit applying to both singles and couples. Starting this year you may want [...]
February 19th, 2010 | By William Allan | No Comments »
In the United States of America, a 401(k) retirement savings plan allows a worker to save for retirement and have the savings invested while deferring current income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wages paid directly, or “deferred,” into his or [...]
