Financial Planning and Money Management
Financial Planning and Money Management
Get the straight facts about: -Retirement plans -Investment strategies -Investment products -Fees and anything else that is rarely discussed by the financial industry.
Blog By:
Kon Litovsky
Kon Litovsky

The Ideal Retirement Plan for Your Practice

12/3/2017 5:19:17 PM   |   Comments: 0   |   Views: 281

Your CPA informs you that profits for the year will top expectations, and that you should start thinking about using a retirement plan to shelter some of that income from taxes because you will be in the highest federal and state brackets.  After doing some research, you find that there are two types of plans available for a small practice: a Safe Harbor 401(k) with profit sharing and a SIMPLE IRA.

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