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Your Smart Money Moves with oXYGen Financial 12/03/13

Taped 12/03/13 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe easier at http://oXYGenFinancial.net ...

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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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