Early retirement planning and its tax benefits were topics discussed by KRS partner and CPA Maria T. Rollins in a recent article published in Chemical Engineering Progress(CEP), the magazine for chemical engineering professionals.
Rollins shared with readers her tax accounting acumen garnered over more than 20 years of public accounting experience. In this particular story, she advised the audience to:
- Put money into a retirement account now and lower this year’s tax bill.
- Avoid borrowing from a 401(K) plan. The lower interest rate may not outweigh the lost earned interest.
- Catch up on retirement fund contributions with additional $6,000 allowed for those 50 and older.
This story appeared in the career advice column of CEP, the flagship magazine of the American Institute of Chemical Engineers (AIChE), which reaches more than 45,000 professionals. Members of the association can read the full article CEP: Career Corner – Get an Early Start on Planning Your Retirement.