Help Supercharge Your Clients’ Tax Savings For 2020!

December 8, 2020 | posted in: Accountants | by

And Help Them Maximize Their Retirement Savings, Too!

Make Sure Your Clients Have Maximized their 401(k) Deferrals for 2020
As the year draws to a close, it is a great time to remind your clients to maximize their 401(k) deferrals. For this year, plan participants can contribute up to $19,500; if 50 or over they can contribute an additional $6,500.
 
Let us help your client establish a tax-deductible qualified retirement plan.
 
At Frye Retirement Planning, we use state-of-the-art design techniques to maximize owner/key employee benefits and lower overall plan costs.
  • $57,000 allocation for each owner in 401(k)/profit sharing plans. If 50 or older, up to $63,500 can be funded into 401(k).
  • Potentially up to $300,000 max contributions for small business owners in Cash Balance/Defined Benefit plans (depends on age and service).
  • Uni-K plan to maximize deductions for self-employed, owner-only, partners or owner-spouse business owners with low W-2 wages (i.e. deduct $29,500 with only $40,000 in wages; if 50 or older, deduction increases to $36,000).
 
Don’t delay – contact our office now to learn how we can help maximize your clients’ tax savings.