TRA MAKES NEWS HAPPEN

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  CASE OF THE WEEK – Cash Balance Plans and Succession Planning

  December 27, 2024 - Explore the potential of using a cash balance plan for business succession planning. Discover the theory, benefits, and challenges of funding a buyout with tax-deductible dollars through a cash balance plan. Consult your tax and legal advisors to determine if this strategy aligns with your partnership agreement and compensation levels. Continue
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  CASE OF THE WEEK – Deferral Limits for Off-Calendar Year Plans

  December 20, 2024 - For businesses that run on a fiscal rather than calendar tax year, they may choose to run their plans on the same fiscal year. Applying plan limits for non-calendar year plans can be tricky. There are a few rules plans sponsors and their recordkeepers must follow to ensure that deferral, compensation and contribution limits are properly tracked. Continue
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  CASE OF THE WEEK – Qualified Charitable Distributions (QCDs)

  December 12, 2024 - IRA owners and beneficiaries aged 70½ and older, including those with inactive SEP or SIMPLE IRAs, can benefit from directing Qualified Charitable Distributions (QCDs) to their preferred charities. Continue
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  401(k) vs Roth 401(k)

  December 10, 2024 - Contact TRA today to explore retirement plan options that fit your business. Our team can help you decide whether a 401(k), Roth 401(k), or both is best suited for your employees, providing guidance every step of the way. Continue
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  CASE OF THE WEEK – Disabled and Chronically Ill

  December 3, 2024 - The SECURE Act introduced eligible designated beneficiaries (EDB) for required minimum distributions (RMDs). EDBs include spouses, disabled or chronically ill beneficiaries, beneficiaries within 10 years of the decedent's age, and minor children. EDBs can stretch RMDs over their lifetimes using the Single Life Table, rather than the 10-year rule. Continue