Tag: retirement Plans

2025-2026 SEP IRA Contribution Limits and Eligibility Rules With Same Year 401K And IRA Contributions

[Updated with latest IRS limits] A year or so after starting my small business and completing my first annual tax return that showed a slight profit, my accountant advised that I start looking into a retirement account/plan for my business in order to lower my overall tax bill and also…

2022 vs 2023 401(k) Employee-Employer Contribution Limits and Catch-up Amounts

I often receive questions regarding 401k retirement plans and contribution limits. So thought I would use this article to answer common questions regarding contributions and associated limits to these widely used employer sponsored retirement plans. Types of 401k Contributions The first thing to understand is that there are two main…