In our last post, we reviewed some of the key differences between a SEP IRA and a Solo 401(k) for business owners with no employees (if you have 1099 income from a side gig, this includes you). In some cases, a SIMPLE IRA may be a better option than a SEP IRA and a Solo […]
Have you ever wondered what happens to your non-qualified deferred compensation plan (NQDC) when you leave your employer? As a reminder, NQDC plans allow executives and other employees to defer a portion of their compensation, as well as the income taxes due, until the balance in the plan is paid. When you leave your employer, […]
Popular Social Security Claiming Strategies are being eliminated The Bipartisan Budget Act of 2015 included a section titled “Closure of Unintended Loopholes,” which has eliminated the popular Social Security maximization strategies of filing and then immediately suspending social security benefits and filing a restricted application for spousal benefits only. Why would Congress close the loophole? […]
