Tax Reform: Retirement Plan Provisions

The Tax Cuts and Jobs Act covers a wide variety of tax changes. In the retirement plan world, before the final bill was passed, there was a lot of talk about reducing contribution limits and/or requiring Roth Deferrals as opposed to pre-tax deferrals. Thankfully, neither of these prop

Why Should I Start a 401(k) Plan for My Company?

Most people are familiar with the tax advantages to the participant of a 401(k) plan. There are also many benefits to an employer for implementing a 401(k) plan. Many of these are financial. The first, and most obvious benefit to the employer, is the tax advantages which can offset so

Required Minimum Distributions

Qualified retirement plans are intended to provide income to participants when they reach retirement age. Required minimum distributions (RMDs) are the distributions that must be made from the retirement plan in order to meet regulations and avoid significant penalties. The IRS requir

Record Retention

As a business, you are required to keep documents for a period of time. These records can take up a lot of storage; whether that be in your office or on your computer hard drive. The general rule of for record retention is seven years, with some exceptions. Below are some recommended

Important Retirement Plan Dates and Updates

There are many tax deadlines and requirements this time of year. Don’t forget Employer contributions to a Profit Sharing Plan for a Plan year ending on December 31, 2016 must be deposited into the plan by the due date of your business tax return, including any extensions. If you