Last November, California voters narrowly approved Proposition 19. According to many real estate experts, Prop 19 is the most significant change in California’s crazy property tax landscape since Proposition 58 was passed in 1986.
Steve Merrell |
Q: Early this year, I took a required minimum distribution from my IRA. When the pandemic hit and the government suspended RMDs for 2020, I was going to put the money back into my IRA so I wouldn’t have to pay taxes on it. I wanted to get it back into my IRA before the end of the year, but
Retirement isn’t what it used to be. In the old days, a person could expect to retire with a nice pension. Nowadays, unless you work for a government entity, you probably don’t have a pension. Instead, most of us are on our own.
Is your retirement plan shark bait? How much do you know about your company’s 401k plan? I’m not talking about the kinds of investments your plan offers or the kind of company match it provides. I’m talking about the nitty-gritty details of your plan, like how much you pay in fees for investment management and plan administration.
Q: A couple of years ago, I decided to start my own consulting business. It has been doing pretty well and someone recently suggested I set up a solo 401k plan to reduce my taxes and boost my retirement savings. It is an S corporation. Would a solo 401k plan make sense?