If your company sponsors a retirement plan, know that the Sweeping stimulus bill recently signed into law includes many retirement plan relief provisions which could impact you or your employees. Highlights of the major retirement related provisions can be found below. Distributions Coronavirus – Related Distributions Employers now have the option to amend their […]
SECURE Act Increases Credit for Small Employer Pension Plan Startup Costs
Under the SECURE Act, small businesses can receive a tax credit for the first 3 years for implementing a retirement plan. For taxable years beginning 1/1/20 and beyond, employers with fewer than 100 employees who implement a retirement plan could be eligible for a credit up to $5,000. Previously this credit was capped at $500. […]
