At InSight, we encourage profit sharing as a valuable option within a 401(k) plan, allowing employers to make pre-tax contributions to their employees’ retirement accounts at the end of the year. Contrary to its name, profit sharing doesn’t necessitate that
The landscape of litigation under the Employee Retirement Income Security Act (ERISA) remains highly active, as highlighted by the 48 new excess fee and performance lawsuits filed in 2023. While this is a decrease from the 89 complaints in 2022,
Tax loss harvesting works by taking advantage of the tax code’s treatment of investment gains and losses. Here’s how it works: 1. Identify Investments with Losses: To start, investors review their investment portfolio to identify assets that have decreased in
Retirement – a phase that symbolizes relaxation and the freedom to delve into passions and hobbies without the regular hustle of a 9-to-5 schedule. However, this new chapter also brings forth unique financial scenarios, with taxes in retirement often being
Embarking on your financial planning journey might feel like a giant leap, but remember: every expert was once a beginner. Let’s take this step together, ensuring your financial stability and prosperity with some essential tips: 1. The Safety Net of
Investors and property owners often welcome “losses” from depreciation on rental properties due to the tax benefits and financial advantages they offer. Here are several reasons why depreciation can be exciting for investors: Tax Deductions: – Depreciation allows property owners
The rules around depreciation for rental properties have their origins in tax laws and accounting principles. Depreciation is a method used to allocate the cost of tangible assets over the years in which they are used, reflecting the reduction of
The realm of social media has largely been dominated by centralized platforms like Facebook, Twitter, and Instagram. These platforms have redefined the way we communicate, but they also come with inherent challenges, from concerns over user privacy to the monopolization
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Investors often turn to bonds as a lower-risk alternative to stocks, and for many, bond funds offer a convenient way to diversify their portfolios. However, the notion that bond funds are an inherently safer bet can be misleading. In some
In a twist that could only make sense in the modern world, pop icon Taylor Swift has seemingly bent the very forces of economics to her will. Forget supply-side theories or fiscal stimuli; the key player in economic inflation—at least,
