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IRS Retirement Plan Contribution Numbers For 2014

As you begin wrapping up your 2013 tax year and begin planning for 2014, you should take note of the announcements the IRS recently made for 2014 retirement plan contribution limitations. Depending on what happens with your overall salary and bonuses for 2014, you may need to adjust your percentage contribution within your paycheck so you don’t overfund your plan. Or, if you have freed up cash flow in 2014, you may be able to increase your overall contributions. Here are the important numbers to know for the Sunday paper edition of Your Smart Money Moves. (source: www.irs.gov) 401(k) – There was no cost of living adjustment this year. If you are under the age of 50, your maximum allowable employee deferral will be $17,500. Those who are 50 years of age or older will be able to put away an additional ‘catch-up’ contribution of $5,500 in 2014. If you have a solo/individual 401(k), you can put away up to ...

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How To Get Funding For Your Start Up Food Truck

You watch Atlanta Eats with Steak.  You listen to Mara on the Atlanta Eats Radio every Saturday. You are consumed with Top Chef, Chopped, and seeing every possible Iron Chef throwdown you can DVR.  Now, you’ve got the bug to start your very own business.  With the proliferation of the modern day food truck hitting the scene, how would you secure funding to start up your very own mobile food business?  Having worked with business owners over the past twenty years (and starting four companies myself), you should know in advance that starting a business is going to be really tough work (you can check out my entrepreneur series here on www.yoursmartmoneymoves.com).  So, what may be the best modern day ideas to get funding for your budding business? WWW.FOODSTART.COM– Foodstart is a crowdfunding business that was specifically built for the restaurant industry.   You can post up your new food truck or coffee shop idea and ask for donations to start your ...

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The Georgia 529 Is The Perfect Stocking Stuffer

As we head into the holiday season, all families begin to deal with the “what do you want for . . .” time of year.   I suppose it really doesn’t matter if it is a birthday, Christmas, or some other special occasion, it seems to be more difficult every year to tell family members what to get for the kiddies.   Years and years of cleaning toys out of toy chests, drawers, and underneath the couches tell me the ghosts of Christmas past had many a toy that was used once and never again.  If you have a child with a 529 plan in the state of Georgia (www.path2college529.com), there is a process where you can encourage others to gift into the plan you set up for your child. STEP 1- In the middle of the screen, you will see this paragraph that will begin the process.  You can click the eGift button to begin getting the word to friends and family. ...

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