Whether it is calculating the most tax efficient way to withdraw funds from your 401K, IRA, Roth IRA, Benefit plan, or budgeting to meet your retirement goals, Addeo, Polacco & Penta, LLC can help you develop a personal plan for your needs. Additionally, we will review your individual Social Security account and work with you to determine the best time to begin taking your social security benefits.
Some of the most popular retirement plans to discuss are:
In addition to the above, please see the area of our website titled INFORMATION CENTER. The Information Center has valuable retirement material concerning your taxes, your business and your finances.
This brief overview by no means includes all the details you need in order to make informed decisions about retirement plans. Not every plan is available to everyone. Contribution limits vary, depending on the plan, your income, and your age. Withdrawals may be required at a certain age for some plans, and they may be taxed or tax-free depending on the rules governing the particular plan. A tax credit may be available to some businesses for setting up a plan and to some individuals for contributing to a plan.
The rules for retirement plans are among the most complex in the tax law. Before you make decisions in this area, call us. We are here to help.