Common Tax Documents: W-2 Form: Issued by employers to employees, showing wages earned and taxes withheld throughout the year. Used for reporting income on personal tax returns. 1099 Forms: Various types including: 1099-INT: Reports interest income earned from bank accounts.
In the world of investing, there are myriad avenues to explore, each with its unique appeal and potential for growth. One avenue that has increasingly captivated my attention is investing in Contract Development and Manufacturing Organizations (CDMOs). However, my approach
This blog post explores the intriguing relationship between mental well-being and economic prosperity. We delve into the world of economics and psychology to investigate whether therapy, aspirational videos, and antidepressants can pave the way to financial success. In our quest
When it comes to making smart investment decisions, there are various factors to consider, such as potential returns, risk tolerance, and time horizon. However, one often overlooked but essential metric is the standard deviation. Standard deviation is a statistical measure
When embarking on a real estate investment journey, one of the first critical steps is the preliminary assessment. This phase sets the foundation for your entire investment strategy and helps you determine whether a property aligns with your goals. In
In the world of real estate investment, thorough due diligence is the cornerstone of success. Whether you’re a seasoned investor or just dipping your toes into the market, understanding the ins and outs of this crucial process is essential. In
As the current year draws to a close, plan sponsors overseeing 401(k) plans have several essential tasks to complete to ensure a smooth transition from the old plan year to the new one. This guide provides insights into what you
A safe harbor 401(k) plan is a retirement savings plan that has advantages for both employers and employees. Here’s why it’s a good choice: Easy Compliance: Safe harbor plans help employers by automatically passing certain annual tests. These tests, like
Compliance testing is a crucial annual responsibility for 401(k) plan sponsors, mandated by the Internal Revenue Service (IRS). It ensures that a company’s 401(k) plan remains equitable, not favoring owners and highly compensated employees (HCEs), and stays within IRS-prescribed limits.
