Taxes on retirement income: Help for accountants advising clients
ThomsonReuters
APRIL 25, 2024
Some employer-sponsored retirement plans, like pensions or certain profit-sharing plans, may provide a portion of income as a lump-sum distribution. Let’s take a look at how Medicare taxes work and the best way to explain them to your clients: Medicare payroll tax during employment. Profit-sharing plan. 403(b) plan. SIMPLE IRA.
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