Two Convenient Locations:
San Diego Office: (619) 283-7113
Julian Office: (760) 765-0343
Click links to access individual blogs
• Stay prepared to sell your businessPage: 1 2 3
• Great uses for your tax refund
• How to File Nonprofit Taxes
• 7 Common Missing Tax Return Items
• Is a Tax Surprise Waiting for You?
• School yourself on the student loan interest deduction
• The 6 Biggest Threats to Your Finances
• Last-Second Money-Saving Tax Moves
• Retirement Contributions Get a Boost in 2019
• 5 Estate Planning Myths
• Disaster Preparedness Tips for Taxpayers and Businesses
• Five Tax Breaks for New Parents
• Setting up Your Business Accounting System
• Ideas to Improve Your Financial Health
• It's tax-planning time
• Managing Money Tips for Couples
• 6 tax benefits of owning a home
• Five Great Finance Tips Everyone Should Know
• How to handle a gap in health care coverage
• Update on the Tax Cuts and Jobs Act
• When an extension makes sense
• Tax checklist for business startups
• Answers to commonly asked tax questions
• New FASB Standards for Nonprofit Accounting
• The best way to avoid an audit: PreparationPage: 1 2 3
• Boost your retirement savings now
• IRS Urges Travelers Requiring Passports to Pay Their Back Taxes
• Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency
• How to Get a Green Light for Commuting Expense Deductions
• Federal requirements for substantiating charitable contributions
• How to cut taxes under the new tax act
• FBI Warns of Online Dating Scams
• IRS issues 2018 standard mileage rates
• Year-end tax checklist
• The Equifax breach and you: be proactive
• Beware of Bogus Charities
• Planning A Wedding Over The Holidays?
Plan For Taxes Too
• Don't Include The IRS On Your Gift List
• Ready To Start Year-End Planning?
Focus On The Big Picture.
• Know When To Sell
• Put Your Tax and Financial House
• Are You Prepared For These Common
• Scams Against the Elderly:
Know the Danger Signs
• Tax Benefits of Corporate Retirement
• Maneuvering the Corporate
Retirement Plan Maze
• Documenting your Business Travel andPage: 1 2 3
• Maximizing your Travel and
• Deducting Business Meals and
• Do Yourself a Favor by Filing
• Do I Need A CPA?
• How to Save Money on Your Tax
• What To Do If You Can't Pay
• What To Do If You Haven't Filed
Maneuvering the Corporate
Retirement Plan Maze
If you are considering forming a retirement plan for your corporation, your first consideration should be the best type of plan to meet your goals. Qualified corporate plans are either defined benefit or defined contribution plans. Defined benefit plans can provide several advantages including larger contribution and deductions; however, defined contribution plans are generally a more practical place to start for smaller corporations.
Defined benefit plans are designed to provide a specific benefit for all employees. The amount of contribution is based on the amount that will be required to achieve the specific benefit level for qualified employees. The contribution is based on actuarial calculations and may vary based on the investment program. The contributions are a fixed obligation of the corporation and must be made annually to the plan regardless of the company's profits.
Defined contribution plans define or fix an annual contribution rate rather than provide a specific benefit. The benefits of these plans are determined by the amount of contributions made and investment performance. Contributions are usually a percentage of employee salary. Defined contribution plans include Profit Sharing Plans, Money Purchase Pension Plans, 401(k) Plans and Cafeteria Plans. Each plan has unique eligibility requirements, contribution limits and distribution rules. The best plan for your corporation will be determined by your particular situation, goals and resources.
Mailing Address: P.O. Box 1934, Julian, CA 92036
Julian Office: 2902 Washington Street, Julian, CA 92036 (760) 765-0343 (760) 765-0150 Fax
San Diego Office: (By Appointment Only) 3751 37th St., #2, San Diego, CA 92105 (619) 283-7113
Correspondence: P.O. Box 1934, Julian, CA 92036 E-mail: rebecca(at)luersdyercpa.com jan(at)luersdyercpa.com
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