New information is an overwhelming constant, so we have rounded up the following important summary of resources. This collection of articles brings together a recap of recent news and information. We hope you find these updates helpful!

 

Payroll Tax Delay To Boost Take-Home Pay, But Don’t Spend It Yet

Article from www.npr.org

“Employers are supposed to stop withholding the payroll tax on Sept. 1, but for many it won’t be that easy. Companies need guidance from the IRS on exactly who is eligible to have their taxes suspended and how to keep track so those taxes can eventually be repaid.” Click here to continue reading this article.

 

Retirement savings: Americans piled money into 401(k)s, IRAs even as the coronavirus-fueled recession took hold

Article from www.usatoday.com

“Stocks have done an about-face and are back near record highs following a coronavirus-fueled sell-off in March. But even during the downturn, workers kept piling money into their nest eggs, according to a new study.” Click here to continue reading this article.

 

10 Tips for Smarter Distributions

Article from www.collegechoiceadvisor529.com

“Are you maximizing your 529 withdraws? Check out these 10 tips for smarter distributions.” Click here to continue reading this article.

 

Tax Rules for Roth 401(k) Distributions

Article from www.irahelp.com

“With more 401(k) plans offering Roth contributions and more folks taking distributions from their plans, now’s a good time to review the tax rules governing Roth 401(k) distributions.” Learn more from Ed Slott… Click here to continue reading this article.

 

Top 12 RMD Waiver Questions

Article from www.irahelp.com

“CARES Act waives required minimum distributions (RMDs) for 2020. While that sounds like a straightforward announcement, the RMD waiver has generated a landslide of inquiries and confusion since the CARES Act was passed in late March.” Read these top 12 Q&As here: Click here to continue reading this article.