401K | The TurboTax Blog

Self-Employed

4 Ways to Save for Retirement When You Work in the Gig Economy

October 17, 2019 October 23, 2019 / Jim Wang

If you work in the gig economy and you want to save for retirement – and reduce your income taxes at the same time – you need to start saving for retirement. Not only will it enable you to direct...

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401K, IRA, Stocks

Using Your 401k to Reduce Taxable Income

October 5, 2019 March 9, 2020 / Jim Wang

As you file your taxes, you’re probably thinking about ways to reduce your taxable income. Did you know that there are a lot of strategies you can use with your retirement funds, like your IRA and 401(k), to reduce your...

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Tax Refunds

How to Use Your Tax Refund to Boost Your Retirement Savings

May 17, 2019 July 23, 2019 / Ginita Wall, CPA, CFP®

What could you do with over $3,000 in your pocket? A lot, right? Well, if your tax refund is anything like the average direct deposit tax refund last year, you could be expecting a little over $3,000 for your tax...

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Tax Deductions and Credits

Can You Deduct 401K Savings From Your Taxes?

February 25, 2019 January 13, 2020 / asbbaines

Contributions you make to your 401(k) plan can reduce your tax liability at the end of the year as well as your tax withholding each pay period. 401(k) plan contributions.

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401K, IRA, Stocks

I Started a 401K This Year. What Do I Need to Know When I File?

February 20, 2018 March 9, 2020 / Elle Martinez

The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020) and 2018 taxes, which should be filed by the April 15th, 2019 (or October 2019 with filed...

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401K, IRA, Stocks

Five Tips to Help You Figure Out How Much to Save for Retirement

October 16, 2017 / Elle Martinez

As we get more comfortable with our finances we’re looking for ways to improve our system and that includes our retirement plans. Here are five tips to help you estimate how much you need to save for retirement.

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Self-Employed

Can the Self-Employed Have a 401(k)?

July 12, 2017 / Jim Wang

The short answer: Yes! If you’re self-employed, have you ever wished that you could have a 401(k) plan, just like salaried employees? Well, you can. It’s called the solo 401(k), and it works just like an employer-sponsored 401(k) except it’s...

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Tax Planning

Tax Tips for Retirees

March 22, 2017 / Ginita Wall, CPA, CFP®

When you retire, your life changes, and your tax situation changes as well. Here are tips to make retired life less taxing and more relaxing. Think before you commingle retirement accounts. Although rolling all your retirement accounts into one giant...

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401K, IRA, Stocks

Retirement Doesn’t Have to be Scary, Here Are 7 Ways You Can Prepare

November 29, 2016 / Jim Wang

The idea of retirement, something decades away, can be scary. What if you make a mistake today that prevents you from retiring when you want to? What if the stock market tanks again? What if… the list goes on and...

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Income and Investments

Small Business Retirement Plans for the End of Year

November 26, 2016 / Winnie Sun

Small business owners often manage their own human resources, which includes figuring out what to do about retirement savings plans. Faced with an array of complex, and sometimes expensive, savings plan choices, it’s tempting to not offer a program. But,...

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The IRS filing deadline has been extended to July 15, 2020, for all taxpayers. See more tax updates related to COVID-19 here.

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