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Posts Tagged ‘401(k)’
Why The New Medicare Tax May Cost You More Money
Current Medicare Tax
Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to the government. A self-employed individual is considered to be both the employer and employee and therefore currently pays 2.9% Medicare Tax.
4 Reasons to do a Roth Conversion
A Roth Conversion is when funds are taken out of an IRA and converted into a Roth IRA. This conversion results in taxable income. Here are 4 Reasons to do a Roth Conversion:
Why Every Week is "Shark Week" for the Self-Employed in Connecticut – Updated
This week is Shark Week on the Discovery Channel. Last year, we told you how every week is "Shark Week" for the self-employed in Connecticut. Now, a year later, there is even more blood in the water.
