E.g., 03/04/2021
E.g., 03/04/2021
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  | Financial Decisions

2020 IRS limits for traditional and Roth IRA's

It’s a new year with transformations to both Traditional IRAs and Roth IRA contribution, income and deductible limits, tax treatments and rules. Now is a good time to familiarize yourself with these reforms and evaluate your retirement savings and tax strategies. This list is not exhaustive and the complexity for each is too much to cover here. It is for this reason, Voya recommends you consult a tax professional to discuss these changes to IRAs and its impact to your specific situation.
Great news for all you retirement savers out there, the IRS says you will be able to contribute more to your retirement accounts in 2019. These changes to individual retirement accounts like 401(k) plans, Traditional IRAs and even Roth IRA are part of the annual inflation adjustments made by the IRS. Larger retirement contribution can mean lower tax bill. Not to mention more income in retirement.
  | Retirement

The SECURE Act Key Changes and FAQs

These FAQs provide a summary of some of the changes within the SECURE Act. Several of these provisions will require interpretation from the IRS and other agencies. As with all financial matters, you should contact tax and financial professionals as it relates to your own personal circumstances.
charitable giving
‘Tis the season for giving – and saving, too. If you’ve been planning to donate this year, don’t wait any longer. For tax purposes, you must give by December 31. Here are a few tips on how to make the most of charitable giving this year:
Can you believe over 52 million Americans have over 4 trillion dollars invested in 401(k) accounts? While most understand the mechanics behind the 401(k) – allowing workers to save and invest a portion of their paycheck before taxes are taken out – many are not aware that there are things to think about regarding maximizing your account’s financial security.

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