From the 401(k) Tag

Tax FAQ Series: Can You Provide General Information Regarding Retirement Plans?

Note that a good investment/financial advisor is very knowledgeable on this front and should be able to guide you in the specifics of using retirement accounts (along with a variety of other investment vehicles) […]

Tax FAQ Series: How much can I contribute to my IRA, 401K, or SEP?

This amount changes each year. For 2019, the limits are as follows: IRA: $6,000 per person ($7,000 if age 50 or older). 401K: $18,500 per person ($24,500 if age 50 or older). SEP: $56,000 […]

Do You Qualify for A Penalty-Free Hardship Withdrawal From Your 401(k) or Other Qualified Retirement Plan?

You can take a distribution from your 401(k) without penalty only if you leave employment or the plan terminates, you turn 59 ½ years old, or you qualify for a hardship withdrawal. The penalty […]