We’re heading into the end of 2022, and it’s around this time of year when tax projections of business profits are performed. It’s also when business owners and their accountants begin mapping out year-end strategies to minimize their taxes to get their company’s business income right where it needs to be. So this year, talk to your accountant and make sure you don’t overlook one of the most commonly used deductions a business can make to minimize taxes—those which allow for retirement plan contributions. “Many businesses still use a Traditional IRA plan, which may have been the right plan to use years ago, but it may not be the most … Read More
