Maximize Benefits with the New Tax Reform Act
- August 2, 2018
- Posted by: Colleen
- Category: Resources
The Tax Cuts and Jobs Act of 2017 provides a great opportunity for Advisors to contact business owners in the third and fourth quarters of 2018 to make sure their plan design will allow for company contributions to maximize the benefits of the new tax reform act.
In addition, small employers who start up a plan can also take advantage of a tax credit to help offset the start up cost of a new plan. The tax reform act and the small employer tax credit can be great incentives for employers who do not have a plan to establish one. Now is a great time to call on small business owners to discuss establishing a plan or enhancing their existing plan.
Below is a convenient link to Form 8881, which employers who start up a plan can use to file for a credit.