Trusted Expert Network.com

With the down market in 2008, you might have sold off some of your losses. Did you know:

1. You can offset your losses against any capital gains dollar for dollar. In addition, you can write off $3000  

The Trusted Expert Network recently posted an important blog about the new tax bill, signed in December ’08, which waived the 2009 minimum withdrawal requirement on IRAs and other retirement plans for those  

These are the key changes in 2009 for 403b and 401k contributions:

1. The maximum employee contributions go up to $16,500 (unless you are over 50 and then you are permitted to add another $5,500).  This increases the maximum contribution to $22,000.

2. For defined contribution plans, such as the traditional “Keogh” or self-employed plan, the new maximum