Articles by Lance Cothern

Lance is a licensed Certified Public Accountant (CPA) in the state of Virginia and he covers money management, budgeting, financial products, and more. He is also the founder of Money Manifesto, a personal finance blog, where he writes about his family's relationship with money. Education: B.B.A. in Accounting from James Madison University.

SIMPLE 401(k): Retirement Savings for Business Owners and the Self-Employed Learn how a SIMPLE 401(k) plan can allow business owners and the self-employed to save for retirement with tax advantages. IRA Contribution Limits & Income Phase-Out Limits for 2023 and 2024 Photo of Lance Cothern Lance Cothern IRA Contribution Limits & Income Phase-Out Limits for 2023 and 2024 The 2023 IRA contribution limit for (traditional and Roth IRAs) is the same at... 401(k) Contribution Limits for 2023 and 2024: Maximize Workplace Retirement Savings Photo of Lance Cothern Lance Cothern 401(k) Contribution Limits for 2023 and 2024: Maximize Workplace Retirement Savings Many for-profit businesses, especially larger ones, offer retirement accounts as a... SEP IRA: The Best Retirement Account for Self-Employed? Learn how SEP IRAs work and how they can help self-employed individuals save for retirement -- with tax advantages -- without typical income from a job. What is the Retirement Saver's Tax Credit? Do You Qualify? Learn how to save money on your tax return with the retirement saver's tax credit. Get more back on your tax return by using the saver's tax credit. How the Government Shutdown Affects Furloughed Employees Financially Photo of Lance Cothern Lance Cothern How the Government Shutdown Affects Furloughed Employees Financially Each year, Congress must allocate money to the many departments and agencies that... How to Get Health Insurance Coverage Without Medicare Photo of Lance Cothern Lance Cothern How to Get Health Insurance Coverage Without Medicare Most people become eligible for Medicare at age 65. You can start the sign-up... 6 Ways You Can Set Up Savings for Your Grandchildren Learn about the different ways that a grandparent can help save for the financial future of their grandchildren, whether it be for general use or education. What Would Be Considered a Financial Emergency? Now that you've been able to save up for an emergency fund, learn about the different situations when you it makes sense to use that money. What You Need To Know About ABLE Accounts Photo of Lance Cothern Lance Cothern What You Need To Know About ABLE Accounts ABLE accounts are a relatively new type of tax-advantaged savings account. They...