L&H Insights

You May Need to Add RMDs to Your Year-End To-Do List

Posted by L&H CPAs on Dec 5, 2017 6:12:37 AM

As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to making New Year’s Eve plans. For taxpayers “of a certain age” with a tax-advantaged retirement account, as well as younger taxpayers who’ve inherited such an account, there may be one more thing that’s critical to check off the to-do list before year end: Take required minimum distributions (RMDs).

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Tags: Retirement Planning

Retirement Savings Opportunity for the Self-Employed

Posted by L&H CPAs on Nov 8, 2017 6:05:53 AM

Did you know that if you’re self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an IRA or even an employer-sponsored 401(k)? There’s still time to set up such a plan for 2017, and it generally isn’t hard to do. So whether you’re a “full-time” independent contractor or you’re employed but earn some self-employment income on the side, consider setting up one of the following types of retirement plans this year.

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Tags: Retirement Planning

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