As we enter the last quarter of the year, there is still time to contribute to certain accounts before 2022. Because some of the maximum account limits changed from last year, and some haven’t, here’s a quick review of those limits and when you need to contribute: 2021 Account Limits: HSA For your health savings […]
Important Deadlines to Know for Your Retirement Plan
If you want to maximize the benefits of your retirement plan, it’s important to note the deadlines that go along with them. Not all retirement plans should be, or can be, set up at the same time. And if you want the tax benefits of your plan, there is a cutoff date to apply your […]
3 Retirement Accounts for the Self-Employed
If you are self-employed or a contractor at a hospital, here are three accounts that you should consider setting up. Solo 401(k) or Individual 401(k) for the Self-Employed I like the Solo 401(k), also known as the Individual 401(k), because it offers the most flexibility. You get an employee and employer contribution totaling $55,000. Plus, there […]
What are the Benefits of a Health Savings Account?
It’s open enrollment season again, which means you’re probably hearing about health savings accounts (HSA). Most companies will provide you with a list of health care options to choose from, including an HSA. A health savings account is a savings vehicle that is intended to be spent on qualifying medical expenses. An HSA covers a […]
Preparing Your Fourth Quarter Finances
The end of the year is coming up, and with it comes a long list of to-dos. Get a jump on your money preparations now and you’ll set yourself up for a smoother fourth quarter: Max Out Retirement Accounts If you have a 401(k), you have until the end of this calendar year to make […]