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Free SEP IRA Calculator

By Dock David Treece on November 19, 2018 | Calculators, Personal Finance, Retirement Accounts

  How to Read Your SEP IRA Calculator Results Suggested Employer SEP IRA Contribution: Your suggested contribution should be the same as the desired amount that you input unless your desired contribution exceeds 25 percent of income or $55,000. If your income is too low, your desired contribution may be too high. If your suggested…

Keogh Plan: Contribution Limits, Rules & Deadlines

By Dock David Treece on November 19, 2018 | Personal Finance, Retirement Accounts, What is

A Keogh plan is a qualified retirement plan that allows self-employed individuals up to $56,000 per year in tax-deductible contributions. Keogh plans have largely been replaced by alternatives, including SEP IRAs and Solo 401(k)s, because tax laws now allow business owners who used to use Keoghs to use other plans instead. What a Keogh Plan…

IRS Form 5500 Instructions [+ Free Checklist]

By Dock David Treece on November 12, 2018 | How To, Personal Finance, Retirement Accounts

form 5500

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. If…

Free SIMPLE IRA Calculator & Contribution Limits

By Dock David Treece on November 9, 2018 | Calculators, Personal Finance, Retirement Accounts

  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,…

Fiduciary Financial Advisor: What It Is, Duties & Obligations

By Dock David Treece on October 18, 2018 | Investing, Personal Finance, What is

fiduciary financial advisor

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

By Dock David Treece on October 16, 2018 | How To, Investing, Personal Finance

espp

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

By Dock David Treece on October 16, 2018 | How To, Investing, Personal Finance

esop

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…

Rollover IRA: Rules, Limits & Deadlines

By Dock David Treece on September 24, 2018 | Personal Finance, Retirement Accounts, What is

Rollover IRA

A rollover individual retirement account (IRA) is established with funds that are rolled over from another IRA or 401(k). Rollover IRAs are used by investors who want to change IRA providers. If you want to change providers or get more investment options, an IRA rollover is a free process that’s ideal for getting access to…

Top 25 Investment Strategies for Small Business Owners

By Benilyn Formoso - Suralta on September 18, 2018 | Investing, Personal Finance, Tip List

Investment Strategies For Small Business Owners

As a small business owner, it’s important to understand how to invest your capital wisely and how to diversify your funds to attain financial stability in your personal life. We spoke with 25 experts who shared different investment strategies to help you grow your business and achieve a healthy financial future. Below are the 25…

8 Best Self-Directed IRA Custodians & Companies 2018

By Dock David Treece on August 30, 2018 | Buyer's Guide, Personal Finance, Retirement Accounts

Self-directed IRA custodian

A self-directed IRA custodian or facilitator gives you the freedom to direct your own investments in stocks and bonds as well as alternative assets like real estate, private equity, and precious metals. We evaluated dozens of self-directed IRA companies on investment options, fees, and customer service and narrowed the list down to the best eight…

Top Heavy 401(k) Plan: Rules, Minimum Contributions & Consequences

By Dock David Treece on August 25, 2018 | How To, Personal Finance, Retirement Accounts

Top Heavy 401(k) plan

Top heavy 401(k) plan testing is an annual test required for all 401(k) plan sponsors. The test breaks down plan assets and limits key employees to owning 60 percent or less of all plan assets. Top heavy 401(k) plans that fail testing must be fixed so that all employees benefit from the plan. Top heavy…

ACP Test vs. ADP Test: What to Know About 401(k) Nondiscrimination Testing

By Dock David Treece on July 20, 2018 | Personal Finance, Retirement Accounts, Versus

ADP test

The actual deferral percentage (ADP) test and actual contribution percentage (ACP) test are both required to be administered every year to ensure traditional 401(k) plans are in compliance. While ADP considers only employee deferrals, ACP also includes employer contributions. However, plan sponsors must conduct both tests regardless of whether or not they match. If you’re…

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