| No matter your size, a 401(k) for you
Q: My employees have expressed an interest in a 401(k) retirement plan, but there are only six of us in the company. Is a 401(k) a good idea for such a small business? Can I even set one up in a company like mine? A: There are 401(k) retirement plans geared specifically to small companies like yours, and offering one can help you attract and retain good employees just like the bigger companies do. For small businesses, 401(k)s come in three varieties: simple, safe harbor or traditional. All three allow your employees to put pretax dollars into investment accounts, lowering their taxable income and helping them save money for retirement. When you match their investments, you are entitled to a tax deduction for the money you contribute to their accounts.
Bar Assn wants decision on judges' retirement postponed
The Jamaican Bar Association is suggesting that the Jamaican Constitution should not be amended to raise the retirement age of judges until the Jamaican Justice Reform Task Force turns in its recommendations. The task force is undertaking a comprehensive review of the island's justice system. Canadian experts are assisting with the review and the recommendations are to be submitted this June. Mr. John Leiba, president of the Jamaican Bar Association, was asked by The Sunday Gleaner last week for the association's views on reported plans to amend the Constitution before the end of June to raise judges' retirement age from 70 to 72 years. He said that his association had responded recently to that very question from Opposition Leader Bruce Golding. No piecemeal amendment The Bar Association's position, Mr.
Dividend tax rate reduced
Are you reporting dividend income on your tax return? In 2006 the tax rate on dividends from large Canadian corporations dropped dramatically. The dividend income gross-up rose from 125 per cent to 145 per cent while the combined federal-Saskatchewan tax credit increased to 30 per cent from 21.3 per cent. These changes greatly reduce the tax rate for dividends for all tax brackets, but especially for Canadians in the lower tax brackets. .
Northwestern Mutual Celebrates 150th Anniversary
MILWAUKEE, March 27 /PRNewswire/ -- Northwestern Mutual Life Insurance Company, one of the world's most admired companies, begins celebrations this month of its 150th anniversary. In what will be a year-long campaign, the company will mark its achievements over the past 150 years as well as look to the future for its policyowners, employees, and representatives. As a part of the campaign, the company's charitable foundation will contribute an additional $3.165 million to non-profit and community organizations across the country where its representatives serve clients.
"It's a privilege to know that we've helped seven generations prepare for the future. Our employees and financial representatives are proud to be part of a company with a long history of helping people achieve financial security," says Edward J.
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