Get ready to save more for retirement in 2019! IRAs are bumped up to $6,000 and 401(k) type plans are at $19,000 in 2019. Catch-up contribution limits are unchanged. Happy saving!
We specialize in helping clients clarify their taxes so they keep more of their money. Many small business owners who come to see us in Fort Worth, TX are generally unaware of even the basic tax saving strategies. Setting up an accountable plan is one of the best methods for a shareholder to get cash out of their corporation. S corporation can set up an accountable plan so that the shareholder will receive tax-free reimbursements while the same expenses are deductible to the S corporation.