The clock continues to tick. Your retirement is one year closer.
You have time before December 31 to take steps that will help you fund the retirement you desire.
Take a few minutes to review the four retirement plan tax-reduction strategies described in this article.
You might find several thousand dollars (and maybe much more) in your pocket by taking the actions in this article. But you’ll need to act now to get the cash.
Big Picture
Here are the four opportunities we explain in this article:
1.
Establish your 2022 retirement plan before December 31 so you can make both an employee and an employer contribution. Yes, you can do this (make both the employee and employer tax-deductible contributions) even if you are the sole owner/employee in a proprietorship or a corporation.
2.
Claim up to $15,000 in tax credits by having your business create a retirement plan that covers you and your employees.
3.
Claim up to $1,500 in tax credits by enabling the automatic contribution.
4.
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