Description:

This book is for preparing 2023 taxes. Help taxpayers determine which type of retirement plan is the best choice for their small business. Numerous options are available to save for retirement with different tax implications for each. Options include those that offer current tax savings and others where the retiree does not realize a tax benefit until they start drawing funds from the plan. In addition, some plans require the employer to match contributions and others do not. Learn about the different retirement plans available for small businesses, such as self-employed pension plans (SEP), savings inventive match plans for employees (SIMPLE) and 401(k) plans, and the tax reporting for each.

• Identifying the features of SEPs, SIMPLE IRAs and 401(k) plans
• Calculating the maximum contribution for various types of retirement plans
• Computing the deduction for various types of retirement plan contributions
• Identifying the employer’s responsibility for maintaining and funding retirement plans
• Distinguishing between the tax treatment of sole proprietors, partnerships and corporations with regard to retirement plans

Product Details:

Item Number: 23367

Level: Basic

Authors: NATP Staff

Published: 2023 

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course.