On February 3rd, President Trump signed a directive delaying new Department of Labor investment advice rules that would have gone into effect in April. The directive delays the implementation by 180 days and instructs the DOL to conduct a new ‘economic and legal analysis’ to evaluate the impact on investors and the industry. The rule […] Read the full article…
IRS contribution limits to retirement plans for 2017 are largely unchanged. The maximum SEP contribution limit has gone up $1,000 to $54,000. Taxpayers can deduct IRA contributions if they meet certain conditions. One condition is that deductions are ‘phased out’ based on your level of income. The phase-outs also depend on whether the taxpayer or […] Read the full article…
Last month the IRS announced 2016 Pension Plan / 401(k) Contribution Limits. 401k elective deferrals remain unchanged at $18,000. As well, catch-up contributions allowed for those 50 and older are unchanged at $6,000. Several of the phase-out limits were adjusted up. For IRA contributors not covered by a workplace retirement plan and is married to […] Read the full article…