Skip to main content

Maximizing Tax Savings with

Retroactive Plans

Did your clients file their corporate tax extension?

If so, they are in the perfect position to start up a retroactive Cash Balance or Profit Sharing plan for 2023. This is a great opportunity to take advantage of additional tax savings and build up your client’s retirement savings.


To get started, follow these steps:


Partner with Experts

Contact Trinity Pension Consultants who specialize in plan design to walk you through the process.


Evaluate Tax Benefits

Review your client’s preliminary 2023 tax return to evaluate the potential tax benefits and savings associated with setting up a Cash Balance or Profit Sharing plan.


Tailor the Plan

Decide on the type of plan that best suits your client’s business needs. Cash Balance plans are typically better suited for smaller businesses with fewer employees, while Profit Sharing plans can be a good option for larger businesses with more employees.


Ensure Compliance

Work with our in-house Actuarial team and administrators to start up the plan and ensure that it is compliant with all applicable laws and regulations.


Seize the Opportunity

With the groundwork laid, it’s time for action. Your clients can make contributions to the plan for 2023 before the extended tax deadline, maximizing tax deductions and securing their financial future simultaneously.


By leveraging a retroactive Cash Balance or Profit Sharing plan, your clients can unlock substantial tax savings, potentially saving them thousands of dollars.

Contact Trinity Pension Consultants at 877.206.6290 to start the process today!

About the author

Heather Craigg