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2020 Last-Minute Year-End Retirement Deductions

November 17, 2020

Are you currently using a retirement plan that’s helping you and your employees reach important retirement goals?

Well, you should have one. And soon. (Read the article for full details.)

Why the rush?

Because if you act by December 31, you’ll be able to put a business retirement plan in place, or make the switch to an extremely useful Roth IRA (if your income is down because of COVID-19).

My advice?

Take a few minutes to read the full article, “2020 Last-Minute Year-End Retirement Deductions”

Here are four strategies you can (and should!) put to use right now:

Strategy #1: Act now and establish your 2020 retirement plan before December 31. You should do this even if you are the sole owner/employee of a proprietorship or a corporation. You’ll get the whole story when you read the full article.

Strategy #2: Claim up to $15,000 in tax credits by having your business create a retirement plan that covers you and your employees. We’ll give you all the details when you read the full article.

Strategy #3: Claim up to $1,500 in tax credits by using the automatic-contribution plan. You’ll find out more when you read the full article.

Strategy #4: Convert to a Roth IRA. Why make the change? We’ll give you four good reasons when you read the full article.

To get detailed advice on how to make these
strategies work for you,
Don’t miss this full article

Filed Under: Employees, Featured Articles, Legislation, Payroll, Retirement, Tax Planning, Tax Policy

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