The best retirement plan for a business trader is a defined-contribution employer 401(k), as this plan allows up to a maximum tax-deductible contribution of $53,000 ($59,000 if age 50 and over) based ...

A profit-sharing plan, which is intended to encourage employees to help the company succeed, distributes a percentage of the company's profits to its employees. Employers voluntarily establish ...

Last month, the IRS released an updated version of Form 5558, "Application for Extension of Time to File Certain Employee Plan Returns." In prior versions, the Form 5558 was used to provide either a ...

Those who have been waiting for the new Form 5500 EZ need wait no longer. As for what’s new, the Internal Revenue Service (IRS) notes that the Pension Protection Act of 2006 established rules for a ...

When you own a business, attracting and keeping competent employees is a challenge, and frequently the benefits you are able to offer make the difference. If you decide to offer a 401k plan, there are ...

The Department of Labor (DOL)’s Employee Benefits Security Administration (EBSA), the IRS and the Pension Benefit Guaranty Corporation (PBGC) released Wednesday informational copies of the 2021 Form ...