401GO’s Post

Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. It is especially attractive to partners and owners who want to catch up on retirement savings and whose businesses are generating a healthy profit each year. https://bit.ly/3wlWJSi

Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. It is especially attractive to partners and owners who want to catch up on retirement savings and whose businesses are generating a healthy profit each year. https://bit.ly/3wlWJSi

Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. It is especially attractive to partners and owners who want to catch up on retirement savings and whose businesses are generating a healthy profit each year. https://bit.ly/3wlWJSi

Big news for small business owners! SECURE Act 2.0 is changing the game for employee retirement plans, making them more accessible and affordable. Now, small businesses can pool resources, enjoy significant tax credits, and offer competitive benefits to attract and retain top talent. Discover how these changes can benefit your business and your employees. https://lnkd.in/ej6MWM5U #SecureAct2 #SmallBusiness #RetirementPlans

📢 NEW ARTICLE ALERT!📢 Save substantially on taxes and monetize your cash flow at retirement! Learn more about cash balance plans here:

🤔Are you changing jobs? Before you decide whether or not to leave your employer retirement plan, do some homework on your options: 1.) Leave funds where they are: Check fees and investment choices for leaving your plan vs rolling it to an IRA with more investment options and advice. 2.) Roll funds into a new plan: Make sure to follow rules and do a "direct rollover" to avoid penalties and taxes. 3.) Cash out the plan: If you don't meet a 10% penalty exception, you'll pay early withdrawal penalties, taxes, and lose out on tax-deferred growth on the balance. ❓What happens when you retire? Enlist your Financial Advisor to advise you on a strategy. Based on your tax bracket, they can advise you on the most beneficial order to take distributions (including taxable, tax deferred and tax free accounts). RMDs - With multiple accounts this can get complicated so familiarize yourself with each plan's terms. ✨Remember, you have options, so assess your accounts, look at the terms and each plan's distribution options before transferring. #employerplans #rollovers #retirement #RMD

𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐒𝐚𝐯𝐢𝐧𝐠 𝐎𝐩𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐘𝐨𝐮𝐫 𝐒𝐦𝐚𝐥𝐥 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 - If you’re looking for a retirement plan for yourself and your employees but are worried about the financial commitment and administrative burdens involved, there are some options to consider. Read the article to learn more and contact the office for more information. #goingbeyond #jnrcpas #taxseason2024 Will Russell Bill Jarrard Chris Nowell Cameron Ernstberger, EA William Russell IV Laura Eberhardt

New blog post. In a recent Employee Benefit Research Institute (EBRI) research report, 72% of small business owners not offering a retirement plan were (still) unaware of the availability of tax credits available under the SECURE and SECURE 2.0 Acts. #401k #retirementplan #plansponsors #smallbusiness #taxcredits #secureact

The Government is serious about small businesses having retirement plans. It may be mandatory soon. A new bill would require businesses with 10 or more employees to offer a retirement plan or join a new Federal IRA plan. (Forbes). This is not a surprise. Similar legislation was introduced in 2022. And 16 states already have some form of mandated small business retirement plans. (Capital Group) Don't wait or make a snap decision for your business. I can help you evaluate your options and the potential costs/benefits of each. Your plan could help save on taxes, attract and retain talent and help secure the financial future for yourself and your employees. #BusinessOwner #401K #SmallBusiness #FinancialAdvisor #FinancialPlanner #Wealth #Money #CFP #Entrepreneur #Retiremment #FamilyBusiness #Taxes #TaxCredit #SECURE Source: https://bit.ly/3ujZXHH Source: https://bit.ly/3UxiE59

A SIMPLE IRA retirement plan allows employees to contribute a percentage of their salary each pay period and have their employer match the contribution. Costs are low, and the financial institution does administration. Employees only pay income tax on the distributed funds. Please read our article to learn more or contact Grill & Partners for accounting services and advice. https://lnkd.in/e87bzaNU #taxstrategy #taxplanning #retirementplanning #wealthbuilding #estateplans #taxlawchanges2024 #taxlaw #typesofretirementplans #IRA