Welcome to your daily briefing on finance developments in AG. Today we're covering 4 key stories including updates on antigua and barbuda finance headlines, background & context. Let's dive in.
1 story
Community First Co-operative Credit Union positions itself as a provider of secure savings accounts, affordable loans, and convenient digital banking for members across Antigua.
For finance professionals in Antigua and Barbuda, this highlights a local member-owned model for combining deposits, credit, and digital access in one institution.
Reach professionals in this market
3 stories
For self-employed individuals, both vehicles allow significant retirement contributions, but the calculation differs. A Solo 401(k) permits an employee deferral plus an employer contribution — often producing higher total contributions than a SEP at identical profit. The crossover point is around $50K-$70K of self-employment income.
Switching from SEP to Solo 401(k) requires plan establishment by year-end (with contributions until tax-filing deadline). Annual review catches the crossover before it costs a year's missed deduction.
The mega-backdoor Roth strategy requires a 401(k) plan that allows after-tax contributions AND in-service distributions or in-plan Roth conversions. Without both features, the strategy is unavailable regardless of income. Many plans permit one but not the other.
Highly compensated participants who plan around mega-backdoor savings need to confirm both plan features at the start of the year, not when contributions are due. The planning window is the calendar year.
Medicare Part B and D premiums above the standard amount apply when modified AGI exceeds thresholds — but the lookback is two years (so 2026 IRMAA uses 2024 income). Roth conversions or retirement-account distributions that bump MAGI in the lookback year can produce surcharges that hit two years later, often unexpectedly.
The IRMAA premium increases can run thousands per year per spouse and continue for the entire surcharge year. Planning conversions around the lookback is a meaningful retirement-tax variable.
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