Money

Cluttered Closets May Harbor Tax Deductions

Now might be the perfect time to clean out your closets and garage. If you give your gently used clothing and household items to charitable organizations, the New Jersey State Society of Certified Public Accountants (NJSCPA) advises you don’t discard potentially valuable tax deductions with your donation:

Understanding Roth 401(k) plans

Ever since Individual Retirement Accounts were introduced in the 1970s, the numbers of tax-advantaged retirement savings options – and participants – have continued to grow. One relatively new alternative that’s gaining popularity is the Roth 401(k) plan.