Smaller businesses may struggle with the financial and administrative burdens of sponsoring their own retirement plans. Thanks to the Setting Every Community Up for Retirement Enhancement Act of 2019, however, a relatively new solution is available: pooled employer plans (PEPs). PEPs are a variation on an existing retirement plan model, multiple employer plans (MEPs), which
retirement plans Archives - Crawford Ellenbogen
Dec 6, 2023
Smaller companies: Explore pooled employer plans for retirement benefits
- By Victor Dozzi
- Business
- 0 Comments
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Feb 7, 2023
Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
- By Joan Ellenbogen
- Retirement, Taxes
- 0 Comments
Most retirement plan distributions are subject to income tax and may be subject to an additional 10% penalty if you take a withdrawal before age 59½. Fortunately, there are some exceptions to avoid the penalty but there are strict rules. In one case (TC Memo 2023-9), a taxpayer lost his job and took a 401(k)
Feb 1, 2022
Numerous tax limits affecting businesses have increased for 2022
- By Victor Dozzi
- Business, Deductions, Retirement, Taxes
- 0 Comments
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at
Jan 14, 2020
New rules will soon require employers to annually disclose retirement income to employees
- By Ellenbogen
- Business
- 0 Comments