As the year comes to an end, business owners and individuals seek opportunities to maximize their savings through year-end tax planning. A Qualified Retirement Plan can be a great tool for small business owners who want to save on taxes and grow their personal wealth at the same time.
An IRA is an account set up with a financial institution that allows an individual to save for retirement, with tax-free growth or on a tax-deferred basis.
In a Roth IRA, you don't get the deduction when you contribute, but the money grows tax-free. The income from the growth is not taxable.
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This webinar below is from or archives. It was presented by Jacob I. Oberlander, CPA, and Chesky Deutsch from CSD Financial in which we covered all the basic information of a company and individual retirement plans.
Some of the topics discussed;
What are the tax benefits of a Retirement Plan?
What are the different versions of Retirement Plans?
Am I too young to consider a Retirement Plan?
Where can I invest my money within a Retirement Plan?
Is my money locked until retirement?