This article is a helpful guide for wrapping up 2023 smoothly! We will dive into those end-of-year 401(k) tasks that require your attention including plan design review, SECURE Act preparation and impact on businesses, Required Minimum Distributions (RMDs), employee deferrals and more.

By utilizing tax-friendly strategies, owners can reduce their tax liability, effectively boosting profits without increasing sales or cutting costs. Let’s delve into some of these strategies and explore how they could potentially bolster your business’s financial health, reduce taxes and help you save for retirement.

Are you eager to supercharge your retirement savings beyond the limits of your 401(k) profit sharing plan? If so, you might be intrigued by the idea of combining your existing plan with a defined benefit plan. This dynamic strategy, known as a “combo plan,” can significantly enhance your retirement benefits by leveraging the strengths of both plan types. In this article, we’ll explore the concept of combo plans and highlight key considerations for those looking to maximize their retirement savings.