Comparing and Contrasting Retirement Plans for Small- and Medium-Sized Businesses (8:30AM-10:10AM)

Description

Clients often ask their tax advisors whether they have the "best" pension plan and whether they are using it to its maximum advantage. This program explains how various pension plans work and analyzes why a small or medium-sized business owner would choose one plan over another.

Highlights

  • Factors business owners should take into account when choosing a retirement plan
  • SIMPLE plans
  • Simplified employee pension plans
  • 401(k) plans
  • Defined benefit plans
  • Ensuring eligible employees are covered
  • Employees’ impact on choice of plan
  • Ongoing compliance requirements
  • Establishing a plan after the tax year end
  • Changes to safe harbor 401(k) plans
  • Pooled employer plans

Objectives

  • Understand the advantages and disadvantages of the major pension-planning options for small- and medium-sized business owners
  • Help clients evaluate pension plan options and select the best pension-planning option for them

Designed For

Any tax practitioner who will advise a business owner about selecting a pension plan for his or her business

Leaders

Michael Reilly

Michael E. Reilly, CPA, is a sole practitioner with offices in West Chester, PA.

In addition to maintaining his practice, Mr. Reilly has been an adjunct professor at several colleges and was a visiting professor of Economics and Business at Lafayette College. He was also the CFO for a large insurance agency in Delaware County, PA, and was a licensed insurance agent in Pennsylvania.

Mr. Reilly earned his bachelor's degree in business administration with an accounting concentration from Temple University and his master of taxation degree from Villanova University School of Law. He also holds the Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) certifications. In 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills.