Retirement Plan Deductions: 4 Things to Consider Before Year-End

by Randy Luebke | Dec 3, 2020

The clock continues to tick. Your retirement is 1 year closer.

You still have time before December 31 to take steps that will help you fund the retirement you desire. Here are 4 things to consider:

1. Establish Your 2020 Retirement Plan

2. Claim the new, improved retirement plan start-up tax credit of up to $15,000

3. Claim the new automatic enrollment $500 tax credit for each of three years ($1,500 total)

4. Convert to a Roth IRA

Make sure you are prepared for year-end and snag your copy of our 2020 Last-Chance Financial Planning Checklist. It’s a small checklist with some BIG ideas that can put money in your pocket! The checklist covers – taxes, retirement savings, investments, insurance, and medical. It might take you five minutes, tops.

I strongly encourage you to review this checklist as soon as possible. If you see areas that need attention, we should address them right away.