December 2011

2012 Simple IRA and SEP IRA Contribution Limits – Small Business Retirement Plans

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The IRS has released 2012 contribution limits and updated eligibility rules for two of the most popular small business retirement plans : the SEP IRA and Simple IRA. SEP IRA A SEP is a popular and widely used retirement plan management approach because it provides self employed owners or small business owners with a few [...]

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2012 vs 2011 Savers Tax Credit To Offset IRA and 401(k) Retirement Plan Contributions

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Despite tough economic times, you should not lose sight of your longer term retirement savings. This is where the savers credit can help you to keep contributing towards a retirement plans without undue financial stress. The saver’s credit, also known as the retirement savings contributions credit, helps offset part of the first $2,000 workers voluntarily [...]

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Should You File a Tax Return or File a Tax Extension?

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In these economically tough times you might not have enough money to pay your entire tax bill when due. Inside your head, you scream, “I need more time!” But wait–the IRS offers a 6-month deadline extension! You ask yourself, “Should I file a tax return or file a tax extension?” It’s better to prepare and [...]

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