Tagged: Retirement Planning


NEED CASH? LITTLE KNOWN TAX BREAK UNDER 2020 NEW TAX ACT: SPECIAL WITHDRAWAL RULES FOR IRAs AND RETIREMENT PLANS

Posted: October 25, 2020

2020 Cares Act Special Tax Breaks The CARES Act adopted in March, 2020 gives a special tax break for those taxpayers that need to take money out of their retirement plans. Taxpayers can take out up to $100,000 in 2020 from their retirement plan. As a special tax break, they can spread the tax bill… Read more »

Retirement Plan Contribution Table

A Handy Chart of 2017, 2016 and 2015 Retirement Plan & IRA Contribution Limits, Maximum Benefits, Maximum Income Subject to Social Security

Posted: January 10, 2017

Retirement Plan & IRA Contribution Limits, Maximum Benefits, Maximum Income Subject to Social Security

IRS Penalty Relief For Failure To File Form 5500

Small Businesses Can Get IRS Penalty Relief for Unfiled Retirement Plan Returns

Posted: July 19, 2015

IRS Penalty Relief for Failure To File Your Retirement Plan Form 5500 Have you failed to file your retirement plan reporting form for your retirement plan? If you have failed to do so, the Internal Revenue Service on July 14, 2015 provided eligible small businesses a low-cost penalty relief program enabling them to quickly come… Read more »

The Silver Lining of a Bad Economy: Gifting of Shares of Stock in a Closely Held Business

Posted: June 05, 2009

Gifting Shares of Stock In a Closely Held Business When Business Is Bad Presents Certain Tax Opportunities As with most things in life, when things are bad, there usually is something good that can come out of it. Our current economic troubles have resulted in many closely held or small businesses being worth far less… Read more »

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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.