Are you a business owner who needs to reduce their current year taxable income and save for retirement? Now is the ideal time to evaluate retirement plan options for 2018 and beyond.
The deadline to establish a safe harbor 401(k) plan fpr 2018 is October 1st, 2018. These plans provide significant benefits to business owners and their key staff members:
- Business owners to make the maximum 401(k) contribution this year ($18,500 or $24,500 if age 50+);
- Safe harbor company contributions can be either a flat 3% contribution to eligible employees, or a matching contribution of up to 4% of pay;
- The plan may allow for additional profit sharing or matching contributions;
- These plans can be paired with cash balance/defined benefit plans for even larger tax-deductible contributions.
Please contact us ASAP so we can start designing a solution for your needs. We look forward to working with you!
Joshua C. Harper, CFP®, CLU®, ChFC®
Office (404) 926-1303
Cell (404) 277-1604
Fax (470) 777-2470
Three Alliance Center
3550 Lenox Road NE, Suite 1100
Atlanta, GA 30326
Article provided by Joshua C. Harper , CFP®, CLU®, ChFC®, for Capstone Financial. For questions, please contact here.