IRS Form 5500 is a form many employers must file annually to provide information on their employer-sponsored retirement plans. 401(k) plan sponsors often use third-party administrators for plan compliance issues including filing Form 5500 while some handle it themselves. It’s important that accurate filings be submitted on time to avoid penalties or plan disqualification. Form…
About the Author
Dock David Treece
Dock's professional background is deeply rooted in the securities and investment advisory industry. As a former registered investment advisory rep and former registered securities rep, Dock assisted clients with critical personal financial planning and decision-making. As an experienced columnist, he has provided engaging and actionable commentary on financial markets and economic developments. While serving on the Finra Small Firm Advisory Board, he assisted industry regulators in understanding the state of the industry and regulatory initiatives.
Free SIMPLE IRA Calculator & Contribution Limits
How to Read Your SIMPLE IRA Calculator Results Some rules of thumb for reading the SIMPLE IRA contribution calculator results include: Annual SIMPLE IRA Contributions: SIMPLE IRA contributions should be at least 3 percent of annual compensation or $5,000. If they’re more than $20,000, or 8 percent to 10 percent of your employee income, it…
Backdoor Roth IRA Conversion: What It Is & When To Use It
A backdoor Roth individual retirement account (IRA) is an account that’s established by converting a traditional IRA or other tax-deferred account into a Roth IRA. Using a backdoor Roth IRA conversion, account holders who aren’t typically Roth IRA-eligible because of income limits can still contribute to a Roth IRA, which then grows tax-free and can…
15 Best Free Business Checking Accounts 2018
Free business checking accounts don’t charge monthly account fees, but even “free” checking accounts vary. We looked at national providers and chose the 15 best free business checking accounts. These accounts don’t charge monthly fees, although you may need to meet certain criteria. However, they do limit monthly transactions and have additional costs for extra…
Fiduciary Financial Advisor: What It Is, Duties & Obligations
A fiduciary financial advisor is an investment professional who is licensed with the United States Securities and Exchange Commission (SEC) or state regulators. Fiduciary advisors are important for clients because they are legally required to put clients’ interests ahead of their own. Using a fiduciary is important if you want an advisor to manage your…
Employee Stock Purchase Plan: How ESPPs Work & Who They’re Right For
An employee stock purchase plan (ESPP) is a benefit plan, like a Roth 401(k), that allows employees to make after-tax deferral contributions that can be used to purchase shares in the company they work for. Using an ESPP, employees can typically buy shares at a discount that they can hold until retirement or sell. How…
Employee Stock Ownership Plan: How ESOPs Work & Who They’re Right For
An employee stock ownership plan (ESOP) is a qualified defined-contribution employee benefit plan that provides the employees of a business an ownership interest in that business. An ESOP is used by employers to either reward employees or as an exit strategy from business ownership. If owned by an ESOP, the business can receive great tax…
Savings Calculator: Compound Interest for Savings, CDs & Money Market Accounts
A savings calculator is a great tool to calculate compound interest and estimate the value of savings over a period of time. Using the savings calculator above, you can see what your savings will be worth in the future and how quickly it will grow in a savings account, certificates of deposit (CDs) or money…
Roth IRA vs. Traditional IRA: Differences & How to Choose
The biggest difference in a Roth vs. Traditional IRA is that Roth IRA contributions are taxed upfront instead of at the time of being withdrawn. Both accounts have the same contribution limits, investment options, and providers. However, Roth IRAs are better if you plan to make more money at retirement age than you do now….
15 Best Small Business Credit Cards 2018
The best small business credit cards offer high reward payouts, specific rewards categories, and low introductory and ongoing interest rates. Based on these criteria, we’ve compiled a list of the top 15 small business credit cards for 2018 and ranked them based on costs, application process, and rewards for various types of businesses and spending….
11 Best CD Rates 2018
Certificates of deposit (CDs) are important savings tools that you can use to grow your savings by earning a prearranged interest rate over a set period of time. We’ve compared dozens of CD rates from banks and credit unions all around the United States to create a list of the best CD rates currently available….
12 Best High-yield Savings Accounts 2018
A high-yield savings account charges little or no fees and allows consumers to build their savings by earning interest each month while still maintaining access to their money. We’ve reviewed more than 60 of the best high-interest savings accounts and narrowed it down to the 12 accounts with the best interest rates. Online Savings Account…
