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Articles by Justin Gluska

Justin Gluska

Justin Gluska

direct vs indirect rollover
Justin GluskaJanuary 15, 2025
Key Differences Between Direct And Indirect Rollovers

KEY SIMILARITIES Both direct and indirect rollovers must be reported to the IRS when you file your income taxes. Both direct and indirect rollovers can move an unlimited amount of money between your accounts. Both direct and indirect rollovers are not taxable events. However, missing the 60-day deadline with an indirect rollover would be counted as a distribution, [...]

rollover ira to solo 401k
IRA
Justin GluskaJanuary 15, 2025
Can I Rollover An IRA To A Solo 401k?

Looking to open a Solo 401k plan? Get started today with just a few clicks – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a Mega Backdoor Roth conversion with a few clicks. An IRA is a tax-deferred retirement [...]

sep ira withdrawals
Justin GluskaJanuary 15, 2025
SEP IRA Withdrawal Rules & Penalties Explained

Contributions to a SEP IRA are made with income that hasn’t been taxed yet. You get a tax deduction each year you contribute and investments in your account grow tax-deferred until retirement. A SEP IRA has similar withdrawal rules as a Traditional IRA. Once you contribute to your account, you cannot withdraw from it until you reach the age [...]

what is 401k
Justin GluskaJanuary 15, 2025
What Is A 401k? How It Works And Basic Rules

401K OVERVIEW & FAQ What is a 401k? A 401k is an employer-sponsored retirement account. If your company offers a 401k, you can automatically deposit a portion of your paycheck into your plan, where it gets invested with tax-free compounding until retirement. What is the contribution limit of a 401k? $23,000 for 2024 and $23,500 for 2025. If you’re [...]

ira vs 401k
Justin GluskaJanuary 15, 2025
IRA Vs 401k: Main Differences Explained

Two of the most popular types of retirement accounts are the 401k and the IRA. They both offer tax advantages but have different eligibility rules, contribution limits, withdrawal rules, and investment options. .wpj-jtoc.--jtoc-theme-basic-light.--jtoc-has-custom-styles { --jtoc-numeration-suffix: ". "; [...]

Justin GluskaJanuary 14, 2025
SIMPLE IRA Contribution Limits (2024 & 2025)

A SIMPLE IRA has smaller contribution limits than a 401k, but provides a simpler and cheaper option for employers to offer a retirement plan for their employees. If your company sponsors a SIMPLE IRA, here’s how much you can contribute as an employee and employer for 2024 and 2025. [...]