October 15th Extension Deadline
The deadline to file your extended 1040 return is approaching fast. Here are some things to keep in mind for last-minute filers: The extension to file is not an extension to pay. If you owe on your tax returns, you may have some penalties and interest if you waited until October to pay. Even if…
What is the difference between Traditional and Roth retirement plans?
Let’s talk about how you actually put money into the retirement plan. In a traditional retirement plan, money is put into the plan PRE-TAX, before any taxes are deducted. This can reduce your taxable income for the year, but doesn’t mean that you actually avoid the tax on that income. You end up having to…
What is the difference between a 401k, a 403b, and an IRA?
The world of retirement plans can be a little confusing if you aren’t familiar with the lingo. First, there are employer sponsored plans. In an employer sponsored plan, the employee has money taken out of their paycheck to put into the retirement plan. The employer may also offer to contribute a matching amount. Different types…
