July 31 Deadline for 2023 Tax Year

Filed a tax deadline extension?                                There may still be time to open plans for 2023.

The deadline for plan year 2023 is on the horizon

Because of the SECURE Act’s tax deadline extension, small business owners and high-income, self-employed professionals may still be able to open a retirement pension plan.

OPEN PLANS BY July 31

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Advisors and CPAs, which types of clients should you look for?

  1. High K-1 or W-2 for small S-corp owners (with 1-10 employees)
  2. Schedule C Net Profit (line 31) for sole proprietors which exceeds $200,000
  3. SEP-IRA and 401(k) clients who want to contribute and deduct more for 2023

Let’s keep your clients focused on their retirement goals. The deadline is fast approaching.

Our expert Plan Design Consultants are happy to discuss any client situation or answer any questions you may have about Defined Benefit and Cash Balance plans.

Call us at 866-269-2706 or email us at DBplans@decated-db.com

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