Pop the corks, and break out the Champagne! It’s 2017! (Well, if not yet, it’s soon). With a new President and a new Congress, 2017 aims to be a very exciting and perhaps uncertain year. The 2017 January Bulletin, however, focuses on tried-and-true strategies for retirement savings. (To download the January eLetter, click here.)
Small Business Tax and Retirement Planning
If you own a small business in San Francisco, you may want to offer a retirement plan to your employees. It can be great for you as a way to shelter income from a current high tax rate and withdraw that income when you’re retire (hopefully at a lower tax rate). It can be great for your employees as you can contribute to their retirement savings, again sheltering that income from a current high tax rate. And, you can vary the amount contribute for each employee, giving you a lot of flexibility. That article in and of itself makes our January, 2017, San Francisco Tax Tips eLetter worth the read. In addition to that one, there is an interesting article on hard-to-value IRAs which occur when you put a non-liquid asset such as a real estate investment in an IRA. Finally, the article on “closed-end” ETFs makes for a keen read for those who are interested in investments. As always, reach out to our office for help on your tax- and retirement-planning needs. We’ll be “back at work” in January, eager to help you plan for an incredible 2017!
About Safe Harbor LLP – a Professional CPA Firm in San Francisco
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service. Its goal: to be the best CPA firm in San Francisco.
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