Retirement Plan Options for Business Owners

As a business owner, you may have most of your money tied up in your company — making saving for retirement especially challenging. If you haven’t already set up a tax-advantaged retirement plan, think about setting one up this year. Keep in mind that, if you have employees, they generally must be allowed to participate in the plan, provided they work enough hours and meet other qualification requirements. Here are a few options to consider: Profit-sharing plans. This is a defined contribution plan that allows discretionary employer contributions and flexibility in plan design. You can make deductible 2018 contributions as late as the due date of your 2018 income tax return, including exte

Castellano, Korenberg Gives Presentation to People's United Bank

On Thursday, June 21, 2018, CK Partners Lisa Ricciardi and Neal Korenberg lead a presentation to loan officers of People's United Bank. The presentation "Understanding Financial Statements of Construction Contractors and Accounting and Auditing Update" explained various aspects of financial statements and what banks should focus on when evaluating contractors. Castellano, Korenberg specializes in construction accounting and conducts presentations like this one to various banks, attorneys, bonding agents, insurance companies and sureties to help them understand the implications and financial standings of contractors. An "accounting and auditing update" was also added to discuss some of the ch

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