Retirement Plan
Many retirement plans now allow taxpayers to make Roth contributions if the plan includes a Designated Roth account. Your plan may also allow in-plan Roth rollovers or loans, depending on its rules.
You have until April 15, 2026, the tax filing deadline, to make 2025 contributions to an IRA. If you’re seeking more than the traditional mix of stocks, bonds, and mutual funds, a self-directed IRA offers greater autonomy and diversification. But it also introduces added complexity.
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return.
If your business sponsors a 401(k) plan for employees, managing it is more than a formality — it’s a legal responsibility. Under the Employee Retirement Income Security Act (ERISA), plan sponsors have a fiduciary duty to act prudently and solely in the best interest of participants.
Whether you’re in the process of making a retirement or estate plan or you intend to donate property to charity, you’ll need to know the value of your assets. An appraisal may be necessary for many hard-to-value items, such as closely held business interests, real estate, art, and collectibles.
Now might be a good time for some taxpayers to convert their traditional IRA to a Roth IRA. Traditional IRA withdrawals are taxed and, if taken early, may be subject to penalties.
Suppose you’re thinking about setting up a retirement plan for yourself and your employees. However, you’re concerned about the financial commitment and administrative burdens involved. There are a couple of options to consider. Let’s take a look at a Simplified Employee Pension (SEP) and a Savings Incentive Match Plan for Employees (SIMPLE).
Today’s small to midsize businesses are often urged to help employees improve their financial wellness. And for good reason: Financially struggling workers tend to have higher stress and anxiety levels. They may be less productive and more prone to errors. Some might even decide to commit fraud.
Devising and executing the right succession plan is challenging for most business owners. In worst-case scenarios, succession planning is left to chance until the last minute. Chaos, or at least much confusion and uncertainty, often follows.
When start-ups launch, their focus is often on tightly controlling expenses. Most need to establish a brand and some semblance of stability before funding anything other than essential operating activities.
