Patriot Software

OCTOBER 17, 2022

Two common retirement plans for employees are individual retirement arrangement/account (IRA) plans and 401(k) plans. Maybe you are considering establishing a Roth, or post-tax contribution, retirement plan. What is the difference between Roth IRA […] READ MORE.

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HR Digest

MARCH 28, 2023

It allows employees to save a portion of their pre-tax income for retirement. How does 401(k) work? Here’s how it works: When an employee enrolls in a 401(k) plan, they choose a percentage of their salary to contribute to the plan, up to a certain limit set by the Internal Revenue Service (IRS).

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HR Digest

JULY 9, 2022

First up: Roth IRA contributions. What is a Roth IRA? A Roth IRA is an individual retirement account (IRA) that allows you to invest pre-tax money, which means that any money you put into it isn’t taxed until you withdraw it — at which point it comes out tax-free. What is a 401(k) plan?

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Stratus.HR

MARCH 30, 2021

Knowing which one to use depends on whether it makes more sense for you to delay paying taxes on your savings until retirement (Traditional) or paying them today (Roth). Traditional 401K. A Traditional 401K is sometimes referred to as the pre-tax option. Roth vs Traditional 401K – Which is Best?

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Business Management Daily

JANUARY 5, 2023

Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. Every mention of the word “Roth” will require significant adjustments to your payroll system to accommodate after-tax withholding. Fixing mistakes.

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Business Management Daily

MARCH 21, 2022

With a 401(k), employees can elect to have a percentage of each paycheck deposited directly into an investment account. These funds may be deducted on a pre-tax basis depending on the type of 401(k) plan. There are some tax credits that can help offset the initial costs of offering a 401(k).

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HR Professionals Magazine

SEPTEMBER 2, 2021

The age-old participant question: should I save Pre-tax or Roth? You may be surprised, or not, to hear that some plans don’t even offer the Roth option. The key between a Traditional or Roth 401(k) boils down to when the participant will pay taxes. But really, what is the difference?

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