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What are the Contribution Deadlines for My SEP IRA?
Generally SEPs can be set up and funded by the tax filing deadline. If an employer chooses to make an annual contribution into a SEP IRA on behalf of all of his employees, it must be made by the same due date as his Federal Income Taxes. In most cases, this is April15th, but if an extension has been filed, the SEP does not have to be set up until October 15th. Because SEPs do not require continuous annual contributions, and because contributions can be added after January 1, they are very flexible and attractive to small businesses. Employees are even able to make traditional IRA contributions as part of a SEP arrangement. Continue reading...
What is Chapter 15?
Chapter 15 bankruptcy is a newer type of bankruptcy filing that has only been around since 2005. It allows foreign companies access to the US bankruptcy court system in certain circumstances. This is part of the US’s compliance with international trade laws. Part of the aim of bankruptcy law is to preserve employment and protect investment. In an increasingly globalized economy it is understandable that the US could offer hearings to corporations which straddle national borders but are not based in the US. Continue reading...
How Can I Establish a SEP IRA?
SEP IRAs do not have to be established until taxes are filed for the year, and it can be done quickly. SEP IRAs require very little paperwork or trouble to establish. One form will notify the IRS that SEP contributions are being made for the year, and the amount. The only other documentation needed is a plan document, which establishes and outlines the eligibility rules for a particular plan, but this document only has to be kept on file at the business, and does not have to be submitted to the IRS or any regulatory authority. Continue reading...
Week (April 15 - 19) in Review: Financial Leaders
Explore this week's dynamic financial market movements with Tickeron's comprehensive review. From the significant gains in inverse ETFs reflecting bearish sentiments to the notable declines in cryptocurrencies and tech sectors, understand the shifts driving current market trends. Dive into sector-specific analyses and global ETF performances to better navigate your investment strategies in these volatile times. Continue reading...
What are the 403(b) Contribution Limits?
The contribution limits are increased over time with cost-of-living adjustments. 403(b) contribution limits are currently the same as 401(k) limits, and are adjusted for inflation at the same rate. As of 2016, if you are under age 50, you may contribute up to $18,000. If you’re over 50, you can also make a catch-up contribution of up to $6,000, for a total of $24,000 for the year. 403(b)s also allow an additional form a catch-up for employees who have been at the job for over 15 years and whose contributions in the past average out to less than $5,000 per year. These catch-ups are called Fifteen Year Cap Expansion Option or just service-based catch-ups. Continue reading...
What are the IRS Guidelines for Filing a Form 4868 Tax Return Extension?
IRS Link to Form — Found Here An individual can automatically have their tax return due date extended by 6 months by filing a Form 4868. Tax returns are generally due by April 15, so this gives a person until October 15 to have the 1040 return submitted. This also goes for other tax return forms such as 1040-A and 1040-EZ. Please note that the IRS expects your taxes to be paid by April 18th, using your best-guess at what you owe, in order to avoid additional charges. People often do not have their tax returns completed by April 15, for various reasons. Continue reading...
What is Publication 15-b on Fringe Benefits?
IRS Link to Publication — Found Here IRS Publication 15-b outlines the different types of fringe benefits available to employees and describes which ones are taxable to the employee and which ones are not. Fringe benefits might include anything from the use of a company car to an employee life insurance policy paid for by the employer. Fringe benefits may be provided to regular employees or independent contractors (1099 employees). Some examples of fringe benefits include tuition reduction, group disability and cafeteria plans, and childcare benefits. Continue reading...
How Do We Understand the National Commodity and Derivatives Exchange (NCDEX)?
How Can You Master the Top 15 Rules for Trading Success?
Want to trade like the pros? Dive into our definitive guide on the top 15 rules for trading success. From strategic insights to mastering the psychological game, discover the keys to navigating the financial markets with precision and confidence. Your trading evolution starts here! Continue reading...
What is the concept of Peak-and-Trough Analysis?
Unlock Market Insights: Explore the World of Peak-and-Trough Analysis 📈 Discover the secrets behind price movements in financial markets. Peaks and troughs unveil universal patterns, confirm trendlines, and identify consolidation periods. Don't miss out on this pragmatic approach to informed investing. 🚀 #InvestmentInsights #MarketAnalysis Continue reading...
What is the Housing and Economic Recovery Act (HERA)?
HERA was passed in 2008 in response to the subprime mortgage crisis that rocked the entire economy and left many Americans underwater on their mortgages. People would need to refinance their mortgages and this bill approved the funding to help that happen. The Housing and Economic Recovery Act did several things, all aiming to help American consumers and lending institutions get out of the recession left by the subprime mortgage bubble in 2008. Continue reading...
What Is Intraday Trading and How Do Intraday Strategies Work?
In the fast-paced world of finance, the term "intraday" is a buzzword used to describe securities that are traded on the markets during regular business hours, showcasing their highs and lows throughout the trading day. For day traders, intraday movements hold a special significance, as they diligently monitor these price fluctuations with the hopes of reaping quick profits. In this article, we will delve into what intraday trading is, its underlying principles, and the strategies that power it. Continue reading...
How might the Fidelity Crypto Launch benefit from the current banking turmoil?
Discover how Fidelity Investments is seizing the moment in a turbulent banking landscape with its strategic foray into retail crypto services across 36 U.S. states. This article explores Fidelity's timely expansion, its unique offerings, and its role as a safe harbor in the face of regulatory scrutiny. As the crypto market evolves, Fidelity's history, adaptability, and commitment to stability position it as a pivotal player for investors seeking secure and accessible options in a rapidly changing financial world. Continue reading...
What is Publication 17 for Individual Federal Income Taxes?
IRS Link to Publication — Found Here The Publication 17 is a very large and detailed guide to help individuals correctly file their federal income tax returns. Form 1040, 1040-A, and 1040-EZ are the return forms used by individuals for federal income tax, but most people won’t know which one to use without either consulting a tax professional or reading this handy 290-some-odd page document. There are many ins-and-outs when it comes to filing federal income tax returns, and Publication 17 is robust enough to clear up many of the questions that might be asked by non-professional filers and CPAs alike. Issues such as filing status, charitable contributions, and a list of instructions for deductions individuals can take, are all listed, among other things. Continue reading...
What Is a Layoff?
A layoff occurs when an employer suspends or terminates a worker, either temporarily or permanently, for business rather than performance reasons. This practice is distinct from firing, which typically arises from performance issues or workplace misconduct. In this article, we delve into the concept of layoffs, exploring their implications, statistics, and providing a real-world example. Continue reading...
Can you provide an overview of the major stock exchanges in India?
Unlock India's Investment Potential! India's booming economy beckons savvy investors. Dive into the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Discover their trading mechanisms, market indexes, and how foreign investors can join this dynamic market. Explore India's vibrant stock exchanges today! #InvestInIndia #StockMarket Continue reading...
What Are the Benefits, Opening Process, and Investments of a Roth IRA?
Are you planning for a financially secure retirement? Dive into our comprehensive guide on Roth IRAs—a tax-advantaged retirement account that lets your savings grow tax-free. Learn about the income limits, allowable investments, and the steps to open a Roth IRA to make the most of your retirement savings. Continue reading...
When Do I Have to Start Taking Money Out of My IRA?
The IRS requires IRA owners to take distributions starting at age 70 ½. By April 1st of the year following the year you turn 70 ½, the IRS needs to see a distribution from your IRA that satisfies the Required Minimum Distribution rule. The RMD is calculated using a table published by the IRS, and each age is assigned a different “factor.” The factor is a number, and you divide the balance of your IRA or 401(k) by that number to reveal the amount that will satisfy your RMD obligation. The factor decreases incrementally as the ages increase. Continue reading...
What Are Free File Fillable Tax Forms?
Tax season can be a daunting time for many, as the process of gathering documents, filling out forms, and ensuring accuracy in your tax return can be a challenging task. However, the Internal Revenue Service (IRS) has introduced a helpful tool for taxpayers in the form of Free File Fillable Tax Forms. In this article, we'll explore what these forms are and how they can simplify the tax filing process. Continue reading...
What are the Contribution Deadlines for My Keogh Plan?
Generally the deadline for contributions is the tax filing deadline, with extensions. In order to deduct your contributions to a Keogh Plan from your taxable income, the Keogh Plan has to be set up by the last day of that year (December 31). The deadline to make contributions to your Keogh Plan is the same as the due date for Federal Income Taxes for your business. This includes extensions, so you may be able to make contributions until October of the following year. Continue reading...