There may soon be three more letters in your employer’s alphabet soup of benefit plans. Those letters are HSA, which stands for health savings account, and they can bring tax advantages at a time when you could use them the most.
President Donald Trump said there will not be changes to tax-deferred retirement savings plans under his proposed tax plan, shooting down reports that House Republicans were considering tweaking or capping one of the most popular breaks.
KPMG has released its 2018 Personal Tax Planning Guide with information about the current tax laws and guidance to help privately held businesses, business owners and their families deal with the uncertainty of upcoming tax reforms.
Taxpayers who have decided to convert a traditional IRA into a Roth IRA may be wondering if they should take the plunge now and pay tax on the conversion this year, or wait till next year when tax rates may be lower under the reform plan Congress will reportedly consider this fall.
The Internal Revenue Service granted additional relief to victims of Hurricane Harvey on Wednesday by making it easier for 401(k)s and other employer-sponsored retirement plans to give loans and hardship distributions to aid victims.
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