Posts by Travis Sickle, CFP®, EA®
Should You Stop Funding Your 529 College Savings Plan for Tax Savings?
You are about to read a strategy that may reduce your adjusted gross income and save you thousands in taxes. I strongly urge you to read the entire blog and think long and hard about how you can work it into your 529 plan savings strategy. I’m a big believer that when there is a…
Read MoreSolo 401k Contribution Deadlines
2021 Solo 401k Contribution Deadlines Tax Entity Type 2021 Contribution Deadline 2021 Extension Contribution Deadline Sole Proprietor (Schedule C)April 15th, 2022October 17th, 2022LLC (Schedule C)April 15th, 2022October 17th, 2022PartnershipMarch 15th, 2022September 15th, 2022S-Corporation (Employer Contribution)March 15th, 2022September 15th, 2022S-Corporation (Employee Contribution)January 31st, 2022Not EligibleS-Corporation (Non-Deductible Employee)March 15th, 2022September 15th, 2022 2022 Solo 401k Contribution Deadlines…
Read MoreRoth IRA MAJOR UPDATE proposed for MORE TAX-FREE contributions
Here is the proposed bill Senators Burr, Casey Introduce College Savings Recovery Act
Read MoreIndex Returns Matrix Book 2022
Download Maxtrix Book 2022 Download
Read MoreBackdoor Roth IRA Pro Rata Rule Explained
The Pro Rata Rule is required when you convert a traditional retirement plan, whole or in part, to a Roth IRA and the traditional IRA has both aftertax and pretax money. The premise of the pro rata rule is to prevent higher-income earners from taking advantage of the backdoor Roth conversion without incurring additional taxes.…
Read MoreRoth IRA Contribution & Income Limits 2022
Roth IRA + Traditional IRA Contribution Limits 2022 IRA + Catchup Contribution 2021 2022 Roth IRA$6,000$6,000Roth IRA Age 50+$7,000$7,000Traditional IRA$6,000$6,000Traditional IRA Age 50+$7,000$7,000 Roth IRA Income Limits Filing Status 2022 Roth IRA Income Range 2023 Roth IRA Income Range Single$129,000-$144,000$138,000-$153,000Married Filing Jointly$204,000-$214,000$218,000-$228,000Married Filing Separately$0-$10,000$0-$10,000 Traditional IRA Income Limits Filing & Workplace Status 2021 IRA Income…
Read More