401k Critical Mistake #2: 401k After-Tax Contributions That Seemed Smart May Cost You Tens of Thousands
By David L. Dunn, CPA/PFS, CFP®, CPWA® Many executives stop contributing to their 401k when they hit the pre-tax contribution limit. You didn’t. You made after-tax contributions. Smart move. But the step you didn’t take may be quietly turning that move into a compounding tax liability you had no reason to expect. This article is […]
401k Critical Mistake #1: Are You Hyper-Funding Your 401k with Mega Backdoor Roth?
By David L. Dunn, CPA/PFS, CFP®, CPWA® Are you maxing out your 401k pre-tax contributions, firmly convinced you’ve captured every tax advantage your 401k has to offer? Your 401k may allow contributions far beyond that limit, and a little-known strategy could make every extra dollar grow tax-free. You might be one of the few executives […]
401k Critical Mistake #6: 401k Company Stock Declined Sharply? Hidden Tax Reset Strategy
By David L. Dunn, CPA/PFS, CFP®, CPWA® Are you an executive who’s watched your 401k company stock drop 30%, 40%, 50% or more? Or maybe it hasn’t dropped yet, but it could. A sharp decline can feel like a disaster. But here’s the counterintuitive truth: that decline may have just opened the door to a […]
401k Critical Mistake #5: Have Company Stock in Your 401k? One Withdrawal Starts a Costly Clock
By David L. Dunn, CPA/PFS, CFP®, CPWA® Do you have highly appreciated company stock inside your 401k? If so, are you thinking about taking a withdrawal to bridge the gap before pension or Social Security kicks in? Here’s the problem: one withdrawal could wipe out a tax opportunity worth hundreds of thousands of dollars. The […]