The 2018 year is rapidly coming to an end. If you have business owner clients who need a tax deduction for the 2018 calendar year, a Qualified Plan is something to keep in mind.
If you have business owner clients who need a tax deduction for the 2016 calendar year now is the time to help them to consider implementing some type of qualified plan. The problem is they cannot wait until after December 31 to make that decision. They need to make that decision now. Why? Because the IRS says that if the business does not have a properly complete plan adoption agreement that has been signed and dated by no later than December 31, the business does not have a qualified plan for the 2016 calendar year. (more…)
It’s time to Establish a Qualified Plan for the 2015 Calendar Year
For business owners who wish to establish a qualified plan for the 2015 calendar year, they must have a properly executed plan adoption agreement from a third party administrative firm and it must be signed and dated by no later than December 31, 2015.