You have time before December 31 to take steps that will help fund your retirement.
Did you know you can Claim the New, Improved Retirement Plan Start-Up Tax Credit of Up to $15,000.
Also, the SECURE Act added a non-refundable credit of $500 per year for up to three years.
Hey and there is the Roth IRA, over its lifetime can produce far superior financial results to the traditional retirement plan. You can withdraw the monies you put into your Roth IRA at any time, both tax-free and penalty-free. Unlike with the traditional IRA, you don't have to receive required minimum distributions from a Roth IRA.
If you would like to know more about the last minute tax strategies and need my assistance schedule an business consultation with me today!
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.