our-teamIt is a very good tax strategy for accountants to recommend a client establish a retirement plan for himself or herself and the other employees of the company. The client will receive significant reductions in taxes, and the work performed by the accountant to gather the information for the pension administration firm is just another rearranging of the same data he or she has to gather to do the payroll and prepare the company’s tax returns.

Recommending establishing a retirement plan helps the accountant to build loyalty to his/her services by the client. It will mean more frequent contact with the employer and the ability to bill more hours during the non-tax season as well as being a partner in watching the retirement account grow over the years to assure the success of the client’s own retirement and to assure his/her family responsibilities are fulfilled, all while getting a significant tax deduction.

The pension administration firm prepares the necessary documents to establish the plan, prepares and files the necessary yearly reporting forms, and keeps track of the participants in the plan. Therefore, the work performed by the accountant to add this wonderful benefit is minimal.

Keep your advisors coordinated for the best outcome. We will contact your accountant at your request to set up a conversation.