Maximize ALL tax credits and lower your tax liability for the 2022 tax year, by adopting a 2022 retirement plan in 2023!
With the SECURE Act legislation, the Cash Balance and Profit-Sharing Start-Up Deadline for a 2022 tax deductible plan is September 15th, 2023 (with extension), lowering the amount of taxable income for 2022.
What does this mean?
You can now complete a preliminary tax return for 2022, determine your tax liability, and then design an appropriate Cash Balance or Profit-Sharing plan to receive additional tax deductions.
How does it work?
- Complete a preliminary tax return for 2022.
- Evaluate your tax liability to determine a contribution amount that is practical for you.
- Trinity’s in-house Actuarial team and Administrators will design a customized retirement plan.
- Enjoy additional tax credits, by lowering your tax liability for the 2022 tax year with your new Cash Balance or Profit-Sharing Plan.
Pro tip: If a Cash Balance contribution is too high for your retroactive plan, consider doing Profit-Sharing, which is less costly in both contributions and administration.
Interested in starting up a retroactive retirement plan?
Contact your Regional Vice President/Retirement Plans
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