DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Take advantage of being self-employed

Do you work for yourself? Make sure you're taking advantage of all the tax breaks out there for self-employed individuals. Here are some of the big ones.

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Tips to Fund your Retirement Account: New 2019 contribution limits create retirement saving opportunity

For the first time in six years, limits for IRAs are rising. 401(k) accounts and IRAs will see an increase of $500 in contribution maximums for 2019. Check out the table below for the details:

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Switching jobs this summer? Don't forget about your taxes

If you're changing employers, the first thing on your mind probably isn't taxes. But the actions you take now can make a big difference next April — and beyond.

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Roll it Before You Pull it: Tips to avoid IRS penalties on 401(k) retirement plan distributions

While each retirement plan has similar early withdrawal penalty exemptions, they are not all alike. Knowing these subtle differences within 401(k) plans can help you avoid a 10 percent tax penalty if you take money out of the plan prior to reaching age 59 1/2. This is true because a basic rollover of funds into a Traditional IRA is a readily available option to avoid the penalty. You should consider rolling over your 401(k) into an IRA prior to early distribution when:

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Create a road map to retirement

Create a road map to retirement

Preparing for your retirement is a journey. And like most journeys, success or failure often hinges on decisions made early in the trip. Consider some of these pointers as you develop your personal road map to retirement.

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Your 401(k) and a job change

Your 401(k) and a job change

If you change jobs this year, don't forget about your 401(k) in your old employer's retirement plan. You may be tempted to...

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