Tax News & Insights from Tax Centers of Georgia
401(k) Contribution Limits: How They Work and This Year’s Numbers
401(k) contribution limits for 2026 For the 2026 tax year, you can contribute up to $24,500 of your pay to a 401(k). If you turn 50 or older by year-end, the limit is $32,500. If you turn 60 to 63, it is $35,750 if your plan allows the higher catch-up contribution....
401k Contribution Deadlines: Why Timing Matters
401(k) Contribution Deadlines: Why Timing Matters When is the 401(k) contribution deadline? If you are planning your retirement savings for the year, we believe the official 401(k) contribution deadline is essential. For most employees, the last day to contribute to a...
What Is a 401(k)? How It Works, in Plain English
A 401(k) is a retirement savings plan offered through your employer that lets you invest part of each paycheck. Contributions may be made pre-tax (traditional) or after-tax (Roth), depending on what your plan offers. Many employers add matching contributions, which...
How To Increase Your Retirement Contributions
Increasing your 401(k) contributions can be one of the most effective ways to strengthen your retirement outlook. Even small increases may significantly boost long-term savings, reduce taxes, and help close the gap between where most investors are today and where they...
Should I Change My 401(k) Investments? What to Consider First
Takeaways Most 401(k) plans let you change your investments online at any time, though some funds may limit frequent trading. Changing where future contributions go and changing how your current balance is invested are two separate steps. Life changes, a shift in your...
Holiday Spending: 5 Questions You Should Ask before You Buy
Holiday spending decisions can affect your finances long after the decorations come down. Asking five questions before each purchase may help you avoid unnecessary debt, stay within your holiday budget, and keep your retirement savings on track into the new year....
Year-End Retirement Savings Moves: Finish 2026 Strong
Before 2026 ends, review your retirement savings, consider increasing 401(k) and IRA contributions, use eligible catch-up contributions, and rebalance your investments. For 2026, new Roth catch-up rules also apply to certain higher earners making 401(k) catch-up...
3 Ways to Reduce Retirement Savings Stress
Retirement savings stress often comes from uncertainty, not just your account balance. Creating a retirement plan, reviewing your 401(k) regularly, and getting professional help when needed can help you make more informed decisions and feel more confident about your...
HSA for Retirement: 7 Common Mistakes to Avoid
An HSA for retirement may help cover future healthcare costs while providing 3 tax advantages: pre-tax contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. Common HSA mistakes include spending funds too early, leaving eligible funds...
401(k) Terms Every Investor Should Know
A 401(k) is one of the most important financial accounts you’ll ever own, yet many investors don’t fully understand how it works. Understanding key 401(k) terms, including employer match, vesting schedules, and target-date funds, can help you make more informed...
Tax Doctor
- Simple Tax Tips Are Sometimes the BestPeople often struggle with record keeping and are typically so busy that they are simply unaware of tools or services that have been developed that could greatly improve the recording of tax deductible expenses, mileage, etc. There are many topics we could cover here, but two that are universal. If you are in business, you […]
- Logical Tax PlanningIt’s hard to be logical all the time about everything. The most financially successful tax clients we serve at least attempt to force themselves to be logical, for their own benefit. For instance, our parents, as well as a subset of the economy including some popular radio show based advisors like Dave Ramsey, say you […]
- Non-qualified Accounts As Tax Planning Tools?When people save for retirement they almost automatically use accounts that avoid tax now. IRAs, 401(k)s, 403(b)s, 457s, all pretax retirement savings plans. Certainly, long term savings uninterrupted by withdrawals and the effect of compounding interest on interest earned is unarguably valuable, but doing that in pretax accounts is NOT the only way to have […]