GT Reilly Company
  • Webtax Guide
  • Contact Us
  • Twitter Facebook Linked in

Call GT Reilly CPAs   617.696.8900

Blog

Reilly Tax Advisor

Should you add RMDs to your year-end checklist?

Dec 07, 2017

For older taxpayers with tax-advantaged retirement accounts, one important item may remain on the year-end to-do list: Take required minimum distributions (RMDs).

Reilly Benefits Advisor

2017 retirement plan contribution limits

Oct 28, 2016

The Internal Revenue Service recently announced that contribution limits for many retirement plans will remain the same for the 2017 tax year, though some will increase slightly.

Reilly Tax Advisor

Take retirement plan RMDs by December 31 to avoid large tax penalty

Dec 09, 2015

After you reach age 70½, you must take annual required minimum distributions (RMDs) from your IRAs (except Roth IRAs) and, generally, from your defined contribution plans (such as 401(k) plans). If you don’t comply — which usually requires taking the RMD by December 31 — you can owe a penalty equal to 50% of the amount you should have withdrawn but didn’t.

Reilly Benefits Advisor

401k or 403b: Certain nonprofits have a choice

Mar 31, 2015

Certain nonprofit organizations have a choice that corporations don’t have in selecting retirement plans for their employees. But there are pluses and minuses to both 401(k) and 403(b) plans, and management and employees alike should be aware of what they are getting.

Reilly Tax Advisor

You can still save on 2013 taxes - contribute to IRA by April 15

Mar 27, 2014

Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future years.

Reilly Benefits Advisor

Convert unused vacation hours to retirement plan contributions

Dec 23, 2013

Every December are your employees scrambling to use up their vacation time because of limits on what they can roll over to the new year?

Reilly Benefits Advisor

How to fix inclusion, exclusion issues in your retirement plan

Aug 26, 2013

Does your organization have controls in place to ensure that only eligible employees are participating in your retirement plan and that all eligible employees have been given the opportunity to participate?

Reilly Benefits Advisor

Avoid mistakes with timely deposits to retirement plans

Jul 10, 2013

In any qualified retirement plan, money comes in and money goes out. An area that has drawn a lot of attention from the Department of Labor (DOL) in recent years is what's known as timely deposits.

Reilly Benefits Advisor

How to manage participant count in a retirement plan to avoid a plan audit

Dec 04, 2012

More often than expected, we are involved with a pension plan audit for which the audit could have been avoided if the plan was administered with the participant count in mind.

Reilly Benefits Advisor

Your responsibility for 401k plan participants’ investment decisions

Oct 24, 2012

Does your company sponsor a 401(k) plan where participants direct their own investments? Do you think you, as the trustee, have no legal responsibility for their investments?

Sign up for our newsletter

Stay informed about our latest blog posts and firm news by signing up for our monthly newsletter