A number of tax limits that affect businesses are annually indexed for inflation, and many have increased for 2022.
Tax Limits for Businesses Increase for 2025
Tag: retirement plan
Self-employed? A Solo 401(k) Plan may be Right for You
For small business owners with no employees (except a spouse) looking to establish a retirement plan, a solo 401(k) is worth considering. This option is also suitable for self-employed individuals or business owners wanting to upgrade from a SIMPLE IRA or SEP plan. A solo 401(k), also called an individual 401(k), may offer benefits in
IRS Adjusts Retirement Plan Contribution Limits for 2023
How much can you and your staff put into your 401(k)s or other retirement plans for the upcoming year? The IRS has announced cost-of-living changes that increase most retirement plan contribution limits for 2023. Inflation caused the amounts to rise more than they did in prior years. 401(k) plans Employees who participate in 401(k) plans
2 Retirement Plan Options for Your Small Business: Set up a SEP or go SIMPLE
Two retirement plan options to consider are to set up a SEP, a “simplified employee pension,” or a SIMPLE, “savings incentive match plan for employees.”
Defined Benefit Plans: Which one is Right for your Business?
If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees.
3 CARES Act Provisions for Retirement Accounts
A few provisions of the CARES Act have provided some financial relief to retirees and retirement savers. Here are three highlights.
New Law Helps Businesses Make Their Employees’ Retirement Secure
A significant law was recently passed that adds tax breaks and makes changes to employer-provided retirement plans.
There’s Still Time to Reduce your 2019 Tax Liability
Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies.
Picking the Right Retirement Plan for your Business
If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages.
Consider a Roth 401(k) Plan — And Make Sure Employees Use It
Despite the prevalence of employers offering Roth 401(k)s, most employees aren’t choosing to contribute to them. If you offer a Roth 401(k) or you’re considering one, educate your employees about the accounts to boost participation.