Welcome to My Blog
Here is a basic blog layout with a right sidebarStartup Retirement Plan Tax Credit
By: Scott M. Cloud, MBA, CPC Employers that establish a brand new employee retirement savings plan are eligible for a tax credit for each of the plan’s first three years. The tax credit amount is capped at $5,000 for each of the plan’s first three years (i.e.,...
The “Large Plan” Audit Requirement
Retirement plan laws require that a company-sponsored retirement plan be subject to an annual audit if it satisfies the definition of a “large-plan”. The audit must be performed by an Independent Qualified Public Accountant (IQPA) and the audit report must be...
The Advantages of Including a Safe Harbor Contribution Feature in Your Company 401(k) Plan
By: Scott M. Cloud, MBA,CPC A well-designed 401(k) plan can help to recruit and retain employees, and – for most workers who have access to a company 401(k) plan – it serves as the primary (or only) investment vehicle to accumulate savings for retirement. For...
Winter 2022 – The Retirement Plan Company Newsletter
2022 - An Ideal Time to Review Plan Design SECURE Act Provisions for Long-Term Part-Time Employees Navigating the Labyrinth of Required Minimum Distributions Upcoming Compliance Deadlines for Calendar-Year Plans 2022 – An Ideal Time to Review Plan Design Each year,...
In-Plan ROTH Conversions
Over the years we have seen a lot of articles and received several calls about “backdoor Roths” or “Mega Roths”. Individuals who expect to pay higher taxes in the future or would like to avoid Required Minimum Distributions may want to consider converting their...
After nearly four decades in exile, inflation is making a largely unwelcome comeback.
By: Jerry Alena On October 13, 2021, the Social Security Administration released the 2022 cost-of-living (COLA) increase. At 5.9% it is the largest single -year increase in 40 years.The new OASDI Taxable Wage Base for 2022 was increased to $147,000 from...