401 – Elite CPA Tax

Tutorial of Tax-Sheltered Savings Plans for 2014

By elitecpas | May 27, 2014 |

Some of the most powerful planning tools are the tax-sheltered savings plans available to almost every business. But these tools won’t help you if you don’t know how they work. We’ve published an executive summary for you below. If you’d like to pay less tax and increase your retirement fund, review the chart below. We…

Breaking tax news for 2013!

By elitecpas | October 21, 2012 |

IRS just announced the new (and higher) limits on 401(k) plans etc. Here’s a summary for use in 2013 tax planning. The inflation-adjustments for 2013 include: Gift Tax Exemption: $14,000 (up $1,000 from 2012) Contribution Limit for 401(k)/403(b)/457 Plans: $17,500 (up $500 from 2012) Catch-Up Contribution Limit (Age 50+) for 401(k)/403(b)/457 Plans: $5,500 (same as 2012)…