Description:

This book is for preparing 2022 taxes. 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 out of 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 and the tax reporting for each. Help taxpayers determine which type of retirement plan is the best choice for them.

Topics include:

• 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: E22367

Level: Advanced

Authors: NATP Staff

Published: 2022

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