Tips For The Retirement Plan Sponsor

on September 18, 2018 Comments Off on Tips For The Retirement Plan Sponsor

Congratulations, you’ve made the leap and now are offering a retirement package to your employees! As a business owner, you ultimately have a fiduciary responsibility when it comes of offering a retirement plan for your employees. Whether or not you are the retirement plan sponsor or you have a third-party, here are some tips from the IRS to make sure you’re plan stays in compliance:

  • Your document must be written to comply with all requirements with the Internal Revenue Code.
  • Your plan must be administered to follow its terms in operation.
  • You must review your plan annually to make sure its operation in the terms and laws.

If you select the option of pre-approved plans, you must make sure you double-check the options in your adoption agreement as well as knowing what your service agreement does and does not cover. It is also your responsibility to keep up with your plan’s ongoing maintenance responsibilities.

To read more from the IRS, click here.

These are just a few tips to help you get started. We know, of course, that all this can be a lot for you at the beginning. We’re happy to sit down with you and help you create a plan to manage your company’s retirement plan well. Don’t go it alone. Let’s talk!


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Jase TeamTips For The Retirement Plan Sponsor

Do You Know The Small Business Tax Breaks?

on September 4, 2018 Comments Off on Do You Know The Small Business Tax Breaks?

Being a small business owner means you wear many hats. Performing all the roles that you do to make your business successful is rewarding, but it can also make it difficult to cover every base effectively. One of those areas is the constant changes and updates to small business tax law and how you can leverage small business tax breaks.

There are many different areas in your day-to-day operations that impact your taxes. Decisions like:

  • Home-office deduction
  • Office furniture and decor
  • Website costs
  • Professional service fees
  • Charitable donations
  • Marketing and advertising

These are just some of the many decisions you may make this year that can impact your business taxes. There are many more. The key is to look at tax credits and not just deductions. (Just as a refresher, deductions lower your taxable income amount and credits are a dollar-for-dollar reduction in your tax bill) By utilizing every break you can help your business.

Of course, it can always help to have help in reviewing your business and that’s what we’re happy to do. We know tax law can be challenging, so if you have questions, or aren’t sure. Let’s talk.


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Jase TeamDo You Know The Small Business Tax Breaks?