There’s a reason why you shouldn’t pile all your cash into your 401(k): You’ll be paying hefty income taxes in retirement. Instead, it’s best to have your nest egg in a combination of tax-free, taxable and tax-deferred accounts so that you can manage your tax bracket in retirement. With the appropriate withdrawal strategy, you can even keep your income low enough to avoid higher Medicare premiums. Withdrawals from your 401(k) and traditional individual retirement accounts are subject to income taxes and, if you take money out before age 59½, a 10% penalty. Taxable accounts generate capital losses and gains when you sell your holdings. Both Roth IRA and Roth 401(k) withdrawals are tax-free.Th
The years add up quickly (or perhaps not, depending on one’s point of view) for parental and spousal caregivers, many of whom are in it for the long haul. In fact, they provide an average of five years of care, no matter their gender. Although the stereotypical caregiver is female, that doesn’t necessarily hold true, according to a report from the Government Accountability Office on care-giving and retirement security — although female caregivers, spousal caregivers and Hispanic caregivers were found to be more likely to provide long-term daily care. In addition, among spousal or parental caregivers who tended their relatives daily, and did so for at least 5 years, 61% were women — while amo
Did you know spending hours at a desk can affect your muscle and bone structure? It can cause you to develop serious conditions that are both painful and debilitating. If you have an office job or lead a sedentary lifestyle, there are ways to reduce your risk of a desk-related injury. Protect your joints and bones with these office-friendly techniques: Hands and Wrist Carpal tunnel is one of the most common injuries among office workers. It’s caused by severe pressure on the median nerve that runs through the wrist. This can lead to tingling or numbness in the fingers as well as muscle atrophy. Avoid these symptoms by taking the following precautions: Keep the arm and wrist closely leveled t
Form 1095 is a collection of Internal Revenue Service (IRS) tax forms in the United States which are used to determine whether an individual is required to pay the individual shared responsibility provision. Individuals can also use the health insurance information contained in the form/forms to help them fill out their tax returns. The individual forms are: Form 1095-A "A Health Insurance Marketplace Statement" Form 1095-B "Health Coverage" Form 1095-C "Employer-Provided Health Insurance Offer and Coverage". Individuals may receive one or multiple versions of Form 1095. The Affordable Care Act includes both the individual mandate and the employer mandate. The employer mandate requires emplo
